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ByteDance, the parent company of famous video app TikTok has joined hands with a virtual social company. This move has led the tech giant to place its bid on the emerging Metaverse sector.
ByteDance on acquisition spree?
According to the report, ByteDance’s investment has resulted in a merger which will be known as the “WaveParticle Technology”. The acquisition will lead to the integration of the 50 people into the Pico Social Center.
The tech giant has already invested in VR hardware, games and other metaverses subdivisions. This deal will surely boost the company’s plan to build a digital virtual world to offer different services.
Earlier, ByteDance went on to buy the PoliQ which operates the virtual social platform “Vyou”. The platform always users to create their own online avatars. The start up was absorbed by the ByteDance owned VR headset company, Pico.
Will it build its Metaverse?
As per the report, the Founder of the PoliQ, Ma Jiesi will now lead the social center department at Pico. He was appointed as the former director of Xiaomi’s VR unit. Jiesi was the man behind the collaboration between Xiaomi and Facebook-owned Oculus back in 2018.
