South Korean internet giant Kakao and game developer Com2uS are reducing the size of their Metaverse teams

Odaily Planet Daily News According to local Korean media Newsis, due to the large losses of the Metaverse platform in the first half of 2023, South Korean Internet giant Kakao and game developer Com2uS are reducing the size of their Metaverse teams. Com2uS, a large mobile game developer with revenue of $536 million last year, recently laid off employees in its Metaverse division. Details about the layoffs have not been disclosed. The company’s Metaverse platform Com2Verse was officially launched on August 1 this year. However, the platform-related business recorded an operating loss of approximately US$6.2 million in the first half of this year. Another South Korea-based Metaverse company, Colorverse, conducted a round of layoffs earlier this year but did not disclose the details to the public. Colorverse, owned by Kakao Games subsidiary Kakao Games and its affiliate Neptune, recorded an $8.6 million loss last year. (Forkast)