Recently announcing plans to downsize, Microsoft has made a new statement indicating a reduction in its Metaverse ambitions.
The company announced the closure of its subsidiary, AltspaceVR, as part of this strategic shift.
Microsoft is shutting down Metaverse company AltspaceVR
Acquired by Microsoft in 2017, AltspaceVR is recognized for its contributions to Metaverse technology. The company has announced its decision to shift focus towards its Mesh platform, leading to the discontinuation of AltspaceVR’s operations on March 10, 2023.
Mesh is defined as a collaborative and communication platform developed by Microsoft, aiming to integrate holographic virtual collaboration across various devices such as VR headsets, AR, laptops, or smartphones. This integration is planned to work seamlessly with Microsoft Teams.
The company expressed its anticipation for the future, particularly the launch of Microsoft Mesh. This new platform is designed to enhance connectivity and collaboration, initially by facilitating global workplace interactions. Microsoft’s immediate VR initiatives will concentrate on workplace experiences, with aspirations to broaden into consumer experiences eventually.
This closure announcement follows Microsoft’s confirmation of its plan to lay off 10,000 employees by the end of March. Windows Central reports that as part of this restructuring, the entire AltspaceVR team is expected to be laid off.
A Bloomberg report revealed that the HoloLens team has also seen a reduction in its workforce. Moreover, in 2022, it was reported that Microsoft had shelved plans for a new HoloLens device.
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