ByteDance, the Beijing-based company that owns TikTok, is downsizing its Nuverse gaming division and laying off hundreds of employees, reports BBC.
Founded in 2019, Nuverse has failed to release a commercially successful project, leading to staff cuts and new projects being canceled in December.
“We regularly review our business and make adjustments to focus on long-term strategic areas of development. Following a recent review, we have made the difficult decision to restructure our gaming business,” said a spokesperson for ByteDance.
This means that the company is leaving the gaming sector, and the remaining employees will support Crystal of Atlan and Earth: Revival.