Tencent Just Made Its Biggest Metaverse Move Yet
Last Fall, the "metaverse" became a buzzword when Facebook changed its company name to Meta Platforms. While the ultimate shape and scope of the metaverse is yet to be determined, it seems likely virtual worlds will grow in the future. Oculus became the most downloaded app on Christmas Day, indicating that more and more people may be trying out this whole metaverse idea.
In China, the best positioned company to benefit from the metaverse is clearly Tencent (OTC: TCEHY). While Meta dominates global social media with its Facebook and Instagram platforms, Tencent dominates China, with its WeChat "super-app" used by more than 1.26 billion people.
And Tencent one-ups Meta when it comes to mobile gaming, which could be another key metaverse application. Tencent is the number one game publisher in China, as well as a large investor in many of the biggest gaming studios across the world.
Source Fool.com
