Caijing’s Late Post reported that ByteDance, the world’s most valuable startup, is looking to begin developing mobile games. ByteDance has begun recruiting for its Oasis Project, which currently has over 100 team members working to develop nine demo games.
Already a leader in short video content through apps like TikTok, Douyin, and Jinri Toutiao, ByteDance is seeking to expand its offerings into gaming. Earlier in 2019, ByteDance acquired two game publishers, Shanghe Internet Technology and Mokun Technology to bolster their capabilities in game development and publishing. This move is a direct challenge to the incumbent in the mobile gaming space, Tencent.
However, with an R&D team of only approximately 100 team members, it is still too early for ByteDance’s Oasis project to pose a realistic threat to Tencent’s stranglehold on the online gaming market. Although ByteDance may not be able to immediately compete with established players in gaming, these moves clearly demonstrate the company’s ambition, as they strive to expand from their short video content into other online sectors. Although, the Chinese gaming industry as a whole has been less promising in recent times, as regulatory restrictions stymie the sector’s growth and halts the publishing of many new titles.
Featured photo credit to Internet