ByteDance’s creation of its gaming division Nuverse in 2019 was widely seen as a major push into a once booming sector. In 2021, the company formalised its status as one of six business units under a broader structural overhaul. ByteDance has confirmed that it will significantly downsize its gaming business after reports of job cuts.The global video game market was estimated to be worth $217bn (£172bn) last year, according to market research and consulting company Grand View Research. Is the Gaming Market shrinking ?
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