Earlier this week, Tencent Holdings made an official announcement to its employees that it was launching a subsidiary dedicated to “extended reality” (XR), formalizing its commitment to the <a href="https://nftandgamefi.com/2022/06/20/mckinsey-metaverse-report-2022/" rel="noopener noreferrer nofollow">metaverse development</a> and virtual worlds.Li Shen, Tencent Games Global Chief Technology Officer, will continue to oversee the company’s progress in this space. Moreover, the company has announced that it will remain affiliated with the Interactive Entertainment space, pushing for further tech advancements.As part of the new organization, Tencent will focus on growing its extended reality business, which includes hardware as well as software.<h2 id="header-0">The new metaverse arrangement</h2>As per two insiders, Tencent eventually plans to employ over 300 people and form a dedicated department as the company ploughs into the space. Given its recent cost-cutting and hiring freeze, this estimate is reasonable. Though, the sources did warn that the company’s hiring plans are still uncertain since the business unit’s numbers will be adjusted as it performs.Read the full article: <a href="https://nftandgamefi.com/2022/06/23/tencent-moves-into-metaverse/" rel="noopener noreferrer nofollow">Tencent forms an extended reality unit as the Metaverse race gathers steam</a>

Tencent forms an extended reality unit as the Metaverse race gathers steam

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