With more than 1,000 people said to be on board, sources have indicated that Bytedance's new team will operate independently from its current attempts to create casual mobile games, focusing instead on the sort of players who spend on in-game items. ByteDance's chief of strategy and investment, Yan Shou, oversees the games operations, and is a Tencent alumnus. Now, ByteDance, another booming Chinese company that's most well known for its social media platform Tiktok, is breaking into the gaming industry.
Recall, the firm was founded in 2012. late previous year, she received the investor's contribution of $78 billion, the Success and recognition ByteDance appeared, to a greater extent after the recognition of the users TikTok, in which you can make and share music videos.
"Its massive global user base and investment in gaming could make it a big disruptor in the gaming space this year", he continued, although he also added that while the tech company might develop a few hit titles in China it would likely find it hard "to truly challenge Tencent in the gaming space" such is its dominance. That sector is mobile gaming, which drives huge revenues for Tencent already. TikTok (and its Douyin equivalent in China) could also be highly useful for Bytedance's promotional push around its first games.
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The creators of the social network TikTok are going to release two games for mobile devices.
Indienova's Wong expects ByteDance to encounter more challenges in the gaming business when compared to its efforts with global hit TikTok.
The initiatives of ByteDance, Tencent and other Chinese game developers, however, will remain subject to the country's regulatory direction. Initiatives to stem gaming addiction in 2018 included suspending the licensing process for new games for nine months.