Tencent says it has the technology to build the metaverse and Beijing does not oppose the concept

The company can approach the metaverse through its video game and social networking businesses, according to Tencent president Martin Lau. The last time a Tencent executive publicly spoke about the metaverse was at the company’s annual video gaming conference in May. — SCMP

Tencent Holdings, the world’s biggest gaming company and operator of Chinese super app WeChat, officially broke its silence on the red-hot concept of the metaverse, saying it has an abundance of technologies to develop what has been called the next iteration of the internet.

Martin Lau, president of the Shenzhen-based company, said on an earnings call on Wednesday that it can potentially approach the metaverse through a range of businesses, citing video game development and social networking as major strengths. The 48-year-old executive also said Beijing does not appear to be “fundamentally averse” to the metaverse, although it would come up with a set of regulations different from the rest of the world.