Alibaba's metaverse subsidiary, Yuanjing, has laid off dozens of employees as it shifts its focus towards metaverse applications.

According to BlockBeats news on November 4, informed sources revealed that Alibaba Group Holding's metaverse subsidiary, Yuanjing, has recently laid off dozens of employees, affecting teams in both Hangzhou and Shanghai. In response to this news, sources related to Yuanjing stated, "Since Yuanjing has completed the construction of the metaverse infrastructure, the focus of business has shifted towards metaverse applications, and adjustments to the organization have been made accordingly." Informed sources indicated that the current focus of the Alibaba Yuanjing team is primarily on two directions: first, to delve into the tourism and industrial metaverse, collaborating with leading manufacturing companies to create model cases; second, to integrate cloud gaming capabilities into Alibaba Cloud as an important component of cloud computing. Yuanjing is introduced as a brand established by Alibaba Group, focusing on real-time cloud rendering, metaverse application computing technology, and metaverse services. It serves as China's next-generation internet metaverse cloud operating system and application computing architecture. During the metaverse boom in 2021, Alibaba established a wholly-owned subsidiary "Yuanjing Shengsheng" with a registered capital of 10 million RMB, focusing on metaverse-related businesses. (South China Morning Post)

Alibaba's metaverse subsidiary, Yuanjing, has laid off dozens of employees, shifting its business focus towards metaverse applications.