Tencent, one of China’s largest software businesses, has taken another step toward the metaverse. According to a recent Reuters report, the Chinese tech and gaming giant has set up a branch for “extended reality” that will be in charge of all of the company’s plans to get into the metaverse-driven market.
The business, which will be part of the company’s entertainment division, will be managed by current Global Chief Technology Officer Li Shen. While there is currently little information about the unit’s direction, insiders claim it will create both software and hardware for the metaverse. With the projected development of AR and XI gear, Tencent may be a strong competitor in the east for businesses like Meta and Microsoft.
The extended reality unit seems to be more than simply another segment within Tencent’s corporate structure. The organisation intends to employ more than 300 employees to work on various metaverse-related initiatives.
Other businesses, such as Meta, have been investing in metaverse devices and platforms in order to gain a competitive advantage in metaverse hardware and software, with the goal of being the first to deliver a coherent virtual reality platform. However, as Meta has recognised, this would result in them losing money in R&D.
There have also been initiatives to finish metaverse standards. Its goal is to collect information from open activities and coordinate the creation of standards for metaverse platforms that are made by everyone.