Previously, the "Mobile Legends" developer was acquired by ByteDance, the owner of the popular TikTok app. The company bought the game developer for more than $4 billion.
"Through cross-team collaboration and drawing on lessons and insights from its own rapid growth, Moonton provides the strategic support needed to accelerate Nuverse's global gaming offerings," said TikTok's owner via Esports Insider.
And now, the tech giant company challenges Tencent, which is another game developer that owns various popular titles such as "League of Legends," "PUBG: Mobile," "Call of Duty: Mobile," and more.
"Be prepared for a long war between Tencent and ByteDance for acquiring game content," said TikTok's owner via CNBC News.
ByteDance's current actions simply show that it wants to enter the gaming industry and have a share of the $86 billion mobile gaming market.
Will ByteDance have a chance against Tencent?
ByteDance might have a hard time fighting against Tencent when it comes to buying or acquiring various titles since the game publisher is currently one of the biggest companies in the gaming industry. It was able to stay on the top for the past few years, thanks to its acquisitions.
Tencent also takes strategic stakes in smaller companies as well as developing its own titles. Because of its efficient methods, the game publisher was able to have an extensive portfolio of games that continue to receive massive revenues, allowing it to expand internationally.
Will Moontoon help ByteDance succeed in the gaming industry
As of the moment, it is still hard to conclude if Moontoon will make a big difference in ByteDance's starting point in the gaming industry. But, Moontoon was also able to provide a big title in the gaming industry in the form of "Mobile Legends," which previously made a huge headline since its 2020 M2 World Championships Grand Final generated more than 3 million viewership.
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Written by: Giuliano de Leon.
