Tencent will shut down the mobile version of its Steam-like video game marketplace WeGame in the coming months.

As reported by the South China Morning Post, the WeGame app will be unavailable to download from July 15, 2022, and has already stopped accepting new user registrations.

The app will then cease operating completely in September, with Tencent calling time on a project that has seemingly failed to meet its lofty expectations amid the tightening of game regulations in China.

WeGame was launched in 2017 on mobile and PC as a rebranded version of its Tencent Games Platform, which at the time boasted an estimated 200 million users in China alone.

Tencent initially viewed WeGame as a direct competitor to Steam in China and used the marketplace to launch some Western-developed games in the region, including Stardew Valley, Cities Skylines, and Don't Starve -- the latter of which reportedly sold 1 million copies during its first month on WeGame.

In 2018, the company detailed plans to debut the storefront in new regions in a bid to build an international audience and bring more Chinese titles to the global market.

"The Hong Kong version of WeGame is now under development," said a Tencent spokesperson at the time. "This version will be available for overseas users, and we will use this platform to bring more Chinese games to the global market."

The move to target overseas markets came after Valve decided to bring Steam to China in partnership with Chinese entertainment company Perfect World.

Now, however, it seems like the mobile app has failed to deliver the goods, and is now largely used by players of titles such as League of Legends and Teamfight Tactics to keep tabs on their personal records.

Indeed, Tencent explained it is axing the app due to "changes in business development strategy" and will preserve certain features by integrating them into the PC version of WeGame.