TikTok Metaverse? Owner ByteDance Buys Into Blockchain

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.

It mentioned that the Meta has got a kind of set its foot in the Metaverse. Meanwhile, the ByteDance also seems to be following its footsteps in a bid to build its own metaverse.

At the beginning of this year, Tiktok owner launched a social media app that allows the users to connect virtually by using avatars. Reportedly it was ByteDance’s reaction to the surge of Metaverse. The app named Paiduidao made a good fit for the definition of the virtual digital world.

Meanwhile, Jiesi mentions that social networks can be very important link in smart VR applications. He added that the it is also an emerging and important trend regarding the development of virtual reality products.

Ashish believes in Decentralisation and has a keen interest in evolving Blockchain technology, Cryptocurrency ecosystem, and NFTs. He aims to create awareness around the growing Crypto industry through his writings and analysis. When he is not writing, he is playing video games, watching some thriller movie, or is out for some outdoor sports. Reach me at [email protected]

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