Tencent Preparing New Gaming Studio to Facilitate Metaverse-Like Developments

Technology Author: Tommy Mi Oct 20, 2021 11:46 AM (GMT+8)

Tencent is looking to prepare for the next stage internet games with new studio that focuses on metaverse.

Gaming equipment

Tencent Holdings is assembling an international team for its new gaming studio that will be under TiMi Studio Group, a subsidiary of Tencent. Rumor has it that the company sent out an internal letter indicating the establishment of new 'F1'. According to the company's official career page, there are also over 40 new positions available for the new studio.

While a representative of TiMi said on Wednesday that the company is dedicated to developing AAA games and does not focus on 'metaverse', a company employee said that the new studio is essentially about the metaverse and development of metaverse-like games.

Despite the officials' attempts to try to stay off the topic of the 'metaverse', Tencent's record shows that the company had filed to register numerous metaverse-related trademarks, including 'Kings Metaverse', 'QQ Music Metaverse', and 'QQ Metaverse'.

Tencent is currently runs the largest video gaming business by revenue. The company owns Riot, which has hit games like League of Legends and Valorant. In addition, TiMi, Tencent's subsidiary, generated over USD 10 billion last year with popular games like Honor of Kings and Call of Duty: Mobile.