Previously, the "Mobile Legends" developer was acquired by ByteDance, the owner of the popular TikTok app. The company bought the game developer for more than $4 billion. 

"Through cross-team collaboration and drawing on lessons and insights from its own rapid growth, Moonton provides the strategic support needed to accelerate Nuverse's global gaming offerings," said TikTok's owner via Esports Insider

ByteDance Acquires Moontoon and Challenges Tencent; TikTok's Owner Enters Gaming Industry
(Photo : Photo Illustration by Drew Angerer/Getty Images)
In this photo illustration, the download page for the Tiki Tok app is displayed on an Apple iPhone on August 7, 2020 in Washington, DC. On Thursday evening, President Donald Trump signed an executive order that bans any transactions between the parent company of TikTok, ByteDance, and U.S. citizens due to national security reasons. The president signed a separate executive order banning transactions with China-based tech company Tencent, which owns the app WeChat. Both orders are set to take effect in 45 days.

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And now, the tech giant company challenges Tencent, which is another game developer that owns various popular titles such as "League of Legends," "PUBG: Mobile," "Call of Duty: Mobile," and more. 

"Be prepared for a long war between Tencent and ByteDance for acquiring game content," said TikTok's owner via CNBC News

ByteDance's current actions simply show that it wants to enter the gaming industry and have a share of the $86 billion mobile gaming market. 

Will ByteDance have a chance against Tencent? 

ByteDance might have a hard time fighting against Tencent when it comes to buying or acquiring various titles since the game publisher is currently one of the biggest companies in the gaming industry. It was able to stay on the top for the past few years, thanks to its acquisitions. 

ByteDance Acquires Moontoon and Challenges Tencent; TikTok's Owner Enters Gaming Industry
(Photo : Photo Illustration by Cindy Ord/Getty)
In this photo illustration, a mobile phone featuring the TikTok app is displayed next to the Microsoft logo on August 03, 2020 in New York City. Under threat of a U.S. ban on the popular social media app, it has been reported that Microsoft is considering taking over from Chinese firm ByteDance.

Tencent also takes strategic stakes in smaller companies as well as developing its own titles. Because of its efficient methods, the game publisher was able to have an extensive portfolio of games that continue to receive massive revenues, allowing it to expand internationally.   

Will Moontoon help ByteDance succeed in the gaming industry 

As of the moment, it is still hard to conclude if Moontoon will make a big difference in ByteDance's starting point in the gaming industry. But, Moontoon was also able to provide a big title in the gaming industry in the form of "Mobile Legends," which previously made a huge headline since its 2020 M2 World Championships Grand Final generated more than 3 million viewership.

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Written by: Giuliano de Leon.

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