China’s Tencent Holdings has started its own extended reality division

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According to Polygon, Tencent Holdings is the world’s largest game company, with stakes in many gaming companies. Tencent Holdings is also behind China’s largest social media messaging app, WeCnat. It is evident that the company’s interest lies in gaming and social media; Polygon has a list of Tencent Holdings investments and holdings that is extensive.

Estimated reading time: 3 minutes

Tencent Holdings Ownership

StudioLocationPercentage owned
FuncomNorway100%
LeyouHong Kong100%
Riot GamesU.S.100%
SharkmobSweden100%
Turtle RockU.S.100%
Wake Up InteractiveHong Kong100%
SupercellFinland84%
Grinding Gear GamesNew Zealand80%
Epic GamesU.S.40%
Pocket GemsJapan38%
Sea Limited (Garena)Singapore25.60%
Dontnod EntertainmentFrance22.63%
Bloober TeamPoland22%
MarvelousJapan20%
NetmarbleSouth Korea17.66%
KakaoSouth Korea13.50%
Bluehold StudioSouth Korea11.50%
Frontier DevelopmentsU.K.9%
Sumo GroupU.K.8.75%
Kadokawa Corporation (FromSoftware, Spike Chunsoft)Japan6.86%
Activision BlizzardU.S.5%
Paradox InteractiveSweden5%
UbisoftFrance5%
Remedy EntertainmentFinland3.80%
1C EntertainmentPolandMajority
10 Chambers CollectiveSwedenMajority
FatsharkSwedenMajority
Klei EntertainmentCanadaMajority
MiniclipSwitzerlandMajority
Yager DevelopmentGermanyMajority
Bohemia InteractiveCzech RepublicMinority
Offworld IndustriesCanadaMinority
Payload StudiosU.K.Minority
Playtonic GamesU.K.Minority
VoodooFranceMinority
AimingJapanUndisclosed
DiscordU.S.Undisclosed
Inflexion GamesCanadaUndisclosed
Lockwood PublishingU.K.Undisclosed
PlatinumGamesJapanUndisclosed
RobloxU.S.Undisclosed
Chart courtesy of Polygon
China's Tencent Holdings has started its own extended reality division

So it should come as no surprise that Tencent Holdings is eyeing VR/AR and Metaverse concepts. According to Reuters, the company has formed an extended reality division that will compete with Meta’s Metaverse and other virtual worlds.

The unit is tasked with building up the extended reality business for Tencent including both software and hardware, the sources said, adding that it will be led by Tencent Games Global’s Chief Technology Officer Li Shen and will be part of the company’s Interactive Entertainment business group.

Two of the sources said the unit will eventually have over 300 staff, a generous figure given how Tencent has been cost cutting and slowing down hiring. However, they also cautioned that the hiring plans are still fluid, as the company will adjust the unit’s headcount based on its performance.

Reuters

Virtual worlds are not a new thing, but they have yet to take to the mainstream. Companies like Meta and Tencent Holdings are betting that they will become mainstream and that people will eventually live in these virtual worlds. It’s certainly going to be an interesting future.

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Last Updated on June 20, 2022.

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