ByteDance makes another move into metaverse with acquisition of VR start-up Pico Interactive | South China Morning Post

ByteDance , the Beijing-based maker of short video platform TikTok, has made another move towards creating its own metaverse with the acquisition of virtual reality (VR) start-up Pico Interactive. The company said that Pico Interactive's software and hardware, as well as its talent and expertise, will support ByteDance's "entry to the VR space and long-term investment in this emerging field". "We are optimistic about the future of VR and its alignment with our mission," said a ByteDance spokeswoman. In April 2021, ByteDance invested around 100 million yuan into Mycodeview, the company behind Reworld, an up-and-coming competitor to metaverse incumbent Roblox….