The Chinese e-commerce giant has become the latest to slash resources for metaverse development as the focus shifts to AI.
Chinese e-commerce giant Alibaba is reportedly scaling down its metaverse operations, joining other tech giants that have reduced resources from the once hyped-up sector.
Dozens of employees at Alibaba’s metaverse division have been axed as the company restructures and aims to improve efficiency, according to the Alibaba-owned South China Morning Post.
The firm’s Yuanjing metaverse unit has operations in both Shanghai and Hangzhou and was set up by Alibaba in 2021 amid the hype for virtual world platforms and related tech.
