Analysts cite inflation, supply chain issues, and markets adjusting to post-lockdown lifestyles as the primary factors at play.
The studio, which plans to release a two titles, is part of NetEase’s strategy to continue expanding outside China.
The search engine giant also pledged to make the Google Play Store a more open platform and provide more ways for consumers and developers to conduct transactions outside the app.
The layoffs come as a response to “a time of economic turmoil,” according to CEO John Hanke.
The acquisition was announced just one day after the decision to cease Spellbreak development was made public.
The Forum doesn’t create standards, but it does encourage common practices and shares research and resources to advance metaverse technology.
The perpetrator, Nicholas Minor, sent the fake takedowns after Bungie removed his own videos, which did violate copyright laws, earlier in the year.
An almost decade-long dispute continues.
Last month, the board of directors urged shareholders to decline the report.
The parties reached a consent judgment before the case could go to trial.
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