Tencent spoke about its potential to approach the Metaverse despite the company’s lower revenue over the years.

Tencent is a huge social media wechat company. This company has its hands in the gambling and payments network. This week Tencent announced its plans to move closer to Metaverse during its third quarter earnings report.

“The Metaverse is” very exciting, but a bit vague “and” an opportunity that will add growth to existing industries ” .

If we calculate Tencent’s sales, it’s only 13% more than last year. And that is expected to be low. And the delay in revenue growth is believed to be due to China’s new rules for gaming companies to limit game times to keep children away from gambling addiction.

According to reports, Tencent is also trying to bet on Metaverse. According to an internal letter leaked in October, Timi Studio Group is developing its new studio and employees have confirmed that the new development work is a Metaverse initiative.

A September report also reported on the Tencent company’s Metaverse initiative , according to the report, the company hired dozens of people. However, the report was based only on expectations.

Following the earnings call report, Martin Lau, President of Tencent Holdings, said gaming and social-based initiatives can be the medium of the metaverse.

” We felt we had a lot of technology and skills that will enable us to tackle the Metaverse opportunity. ”

If we call Tencent just one company, then it’s wrong because this company isn’t just one popular, but also works in the backend, where people know about its services.

Tencent’s WeChat messaging networking platform has more than 1.3 billion users worldwide. Tencent also has a 40% stake in Fortnite. “

And when we talk about the game industry, there are popular games like Call of Duty: Warzone and League of Legends. These games are also made by the company Tencent.

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