Tencent Forms 'Extended Reality' Unit

China's Tencent has officially announced the formation of an "extended reality" unit, "formally placing its bets on the metaverse concept of virtual worlds," reports Reuters. From the report: The unit is tasked with building up the extended reality business for Tencent including both software and hardware, the sources said, adding that it will be led by Tencent Games Global's Chief Technology Officer Li Shen and will be part of the company's Interactive Entertainment business group. Two of the sources said the unit will eventually have over 300 staff, a generous figure given how Tencent has been cost cutting and slowing down hiring. However, they also cautioned that the hiring plans are still fluid, as the company will adjust the unit's headcount based on its performance. The unit was first formed earlier this year but remained shrouded in secrecy, the three sources said.

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