Tencent CEO says metaverse is “very exciting, but a little bit vague
Tencent talked about its potential to approach the Metaverse despite the less revenue of the company over the years.
Tencent is a giant Social media Wechat company. This company has its hands in the gaming and payment network. This week Tencent shared their plans to approach Metaverse, during the earnings call report of Q3.
The CEO and chairman of Tencent, Pony Ma, said that
“The metaverse is “very exciting, but a little bit vague,” and “an opportunity that adds growth to the existing industries.”
If we figure out the revenue of Tencent then it is only 13% up over the last year. And this is low as per expectations. And it is believed that the lag in the revenue growth is because of China’s new rules on the gaming companies to restrict the gameplay hours so that children remain away from the addiction of games.
Reports also claimed that Tencent is trying to bet on metaverse. An internal letter leaked in October month, according to the leaked letter ‘Timi Studio Group’ is developing its new studio and employees confirmed that new development work is an initiative of the part of Metaverse.
A report in September also reported about the initiative of the Tencent company in Metaverse, according to the report the company was hiring dozens of employees. However, the report was based on the expectations only.
After the earnings calls report, Martin Lau- the president of Tencent Holdings- said that gaming and social networking based initiatives can be the medium to the metaverse.
“We felt that we have a lot of tech and capability that will allow us to approach the metaverse opportunity,”
Tencent is not only a company
If we call Tencent only a company then it will be wrong because this company is not only popular but working at the backend, where people know about its services.
The WeChat message networking platform of Tencent has more than 1.3 billion users globally. Tencent also has a 40% stake in Fortnite”.
And if we talk about the gaming industry then there are popular games like “Call of Duty: Warzone” and “League of Legends. These games are also issued by the Tencent company.
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