Thursday, November 19, 2020

Wave Gets Investment From Tencent Holdings

Los Angeles-based virtual reality startup Wave has scoreds an investment from Chinese company Tencent Holdings, as part of a partnership to bring Wave's animated concert technology to companies in China, the two said on Thursday. Financial details of the minority investment were not announced. According to the companies, Tencent Music will gain the right to air Wave's concerts, which allows avatars to interact with those concerts, and which also stream to YouTube, Twice, Facebook, TikTok, and Twitter. The two also said they will create virtual concerts on Tencent's own live music performance brand, TME Live.