https://techcrunch.com/2023/11/26/after-two-ambitious-years-tiktok-parent-bytedance-starts-mass-layoffs-in-gaming/

ByteDance’s gaming ambition has been an expensive, short-lived pursuit.

In late 2021, the TikTok parent’s plans for video games came into the spotlight after it became one of the firm’s six core business units, posing a new threat to incumbents such as Tencent and NetEase and rising star MiHoYo. Nonetheless, after two years of tepid performance, the gaming department, called Nuverse, is significantly scaling back its operations in a move that has surprised many employees.