Alibaba is scaling back its metaverse operations, laying off dozens of employees.

According to Cointelegraph, Chinese e-commerce giant Alibaba is scaling down its metaverse operations, with dozens of employees in its metaverse department being laid off. Alibaba's metaverse department, which has offices in Shanghai and Hangzhou and was established in 2021, previously received billions of yuan in investment. It will continue to provide metaverse applications and tool services, but at a reduced scale.