Tencent shuts down WeGame, its Steam-like mobile game platform, due to “changes in business development strategy”.
Launched in April 2017 in China, and then globally in 2019, the WeGame video game platform is considered a rival to Steam. However, Tencent has decided to abort its mission, and by early September 2022, the service will shut down completely.
The portal’s app will not be downloadable as of July 15, and all operations related to everything else will end this coming September.
WeGame has closed new user registrations and as previously stated, users will not be able to download the app after a few days.
This was once an ambitious project and certainly had a solid foundation when it first launched, especially in its home country of China.
The cause of the downfall of WeGame
Outside of the world, Tencent seems to be doing very well, but in its home country of China, the giant is facing a lot of big problems.
Just a month ago, Tencent had to shut down the penguin streaming platform eSoprts because the government of the country did not allow the merger plan between Huya (a Tencent company) and DouYu (a streaming service). Chinese video).
Before that, the video game company also suffered another setback when the game licensing authority in the country of billions of people did not approve the release of the game. Tencent also reported a sharp drop in profits in the first quarter of 2022, with a figure of up to 52%.
All in all, it seems that the strict regulations have caused the company to try to minimize high-risk investments and invest in projects with more profitable opportunities.
Specifically, in 2022, Tencent acquired Back 4 Blood developer Turtle Rock Studios and 1C Entertainment.
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