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Tag: Tencent

  • Tencent-Backed Global Esports Federation Founded in Singapore

    Tencent-Backed Global Esports Federation Founded in Singapore

    On December 16th 2020 a new self-described Global Esports Federation (GEF) was supposedly launched in Singapore, partnering up with a Chinese tech personality Tencent.

    Listed itself as a global founding partner, Tencent Esports are looking forwards to open up relationships with GEF in copyrights, event management, talent training, business models and providing with drafting regulations according to the GEF vice president Cheng Wu.

    Global Esports Federation
    Global Esports Federation

    The president of GEF Chris Chan who is also secretary-general of the country’s National Olympic Council wants the group to host an international tournament as early as 2020.

    The industry of esports is certainly decentralized, game publishers behaving as a sole intellectual owner of the same and a self-claimed competition regulator, but now the time has not changed. As there are multiple organizations attempting to monitor the space, neither of which is officially recognized as the single global governing body within the industry, nor for a single game.

    Tencent
    Tencent

    During the launch conference, GEF stated that it wanted to be “the voice and authority for the worldwide esports movement.” The whole point of this exercise is to make sure it stays a fair game and anti-doping for every competitor.

    As described by few of the initial board members for GEF including Chris Overholt, CEO of esports team, Chester King, CEO of British esports association, Lorenzo Giorgetti, Chief Business Officer for the soccer club or AC Milan and finally Adrian Lismore, Chief Investment Officer of Calypso investment and former Chief Business Officer of British Petroleum.

  • ByteDance And Tencent Deal With Rising Tensions Over Gaming Presence

    ByteDance And Tencent Deal With Rising Tensions Over Gaming Presence

    In the world of video and multiplayer games, Tencent has been the winner for years now. With ByteDance coming in the way, the tensions between the two Chinese giants have risen manifold. ByteDance is an internet technology company which majorly involves in content platforms. On the other hand, Tencent is a multinational conglomerate holding company that specializes in internet-related products, services, artificial intelligence, and entertainment.

    ByteDance has been a hugely successful start-up, founded in 2012. Lately, ByteDance has started to expand the company’s ecosystem of services and products. They are now trying to get a hold of the industries dealing with an online search, smartphones, and video games.  At the end of the year 2019, ByteDance has posted more of the 210 gaming related job openings. A significant number of which was targeted to the best colleges and universities in the country. Ranging from experienced game developers to designers and producers, the job postings directly indicated the gaming industry.

    ByteDance
    ByteDance

    There is also news that Duoyin, which is a video sharing app run by ByteDance, has launched a mini-game inside the app. It is believed that by allowing users to play games in the app, the company shall have a more effective distribution channel through the users themselves. ByteDance is valued at about $78 billion as of year, 2019 leaving behind Uber Technologies. Its rapid internal expansion and growth are posing a massive challenge on the existing giants in the industry like Tencent and Baidu.

    ByteDance has also recently launched a video-based social messaging application, much like Tencent’s WeChat, which is extremely popular in China. It also owns TikTok, which is one of the most used apps in today’s market. It is also the most downloaded application in the first quarter of 2019, with over 46 million downloads. In the past year, Duoyin launched a casual game that grew to become the most downloaded game in the Apple Store.

    Tencent
    Tencent

    Currently, the Chinese giants are trying their hand at the gaming industry. Tencent has also launched a mini-game which had a succession of about 100 million users every day. The accomplishment of the application gained interest from brands across the world. Brands like McDonald’s and Nike placed their advertisements in the game following the incredible success of the app.

    In this never-ending race between Tencent and ByteDance, new games and applications are coming up frequently. Tencent has once again launched two video apps to keep up in the duel for China’s booming short video industry. The apps have been estimated to have about 353 million viewers in the previous year.  China estimates the growth in the industry to reach about $36.5 billion in revenue in the coming year. With both the companies having a substantial hold in the gaming industry, each of them is seemingly approaching a win to exploit the social media platforms for an all-new development.