**ByteDance’s Exit from Gaming Industry: Selling Off Games Assets to Focus on Core Businesses**
ByteDance, the parent company of the popular social media platform TikTok, is reportedly looking to sell its gaming assets as part of a strategic move to focus on other core businesses. The latest development in this story involves potential negotiations with Tencent, the world’s leading games company, for a complete sale of ByteDance’s games and development studios.
**ByteDance’s Foray into Gaming Industry**
Until recently, ByteDance was heavily investing in the gaming sector. The company welcomed content creators with gaming-based content onto its platform and saw some notable names join in. However, ByteDance’s game development and marketing arms – which heavily rely on TikTok for promotion – are set to be sold off.
**Streaming and Content Creation in the Gaming Scene to Continue**
It is unlikely that the streaming and content creation aspects of gaming on TikTok will come to an end. But, with ByteDance pulling out of game development and marketing, the future of these popular gaming-related activities on the platform remains uncertain.
**ByteDance’s Retreat from the Gaming Industry**
Last year, ByteDance announced a restructuring plan that included a withdrawal from the gaming industry. This move involves selling off development studios and games like Nuverse, Moonton, DreamStar, Crystal of Atland, and Earth: Revival.
**Ongoing Negotiations between ByteDance and Tencent**
According to reports, discussions are underway between ByteDance and Tencent regarding the potential sale of gaming assets. However, no deal has been reached as of yet. Both Chinese tech giants are significant players in their respective industries.
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