In Brief
Microsoft is shutting down its Industrial Metaverse, which was formed just four months ago to help customers utilize the metaverse in industrial settings.
Despite discontinuing the Industrial Metaverse and shutting down AltspaceVR, Microsoft remains committed to its metaverse vision and is continuing to invest in its leading platform, Microsoft Mesh.
The Trust Project is a worldwide group of news organizations working to establish transparency standards.
In an unexpected turn of events, Microsoft discontinued its Industrial Metaverse core team. The group was formed only four months ago to assist customers in using the metaverse in industrial settings. The entire team of roughly 100 employees has been let go, including both co-founders, The Information reports.
The team was established in October 2022 by Microsoft, with plans to develop software interfaces for controlling power plants, transportation networks, and industrial robots. However, the team, primarily composed of members known internally as Project Bonsai, became a casualty of Microsoft’s recent announcement to cut 10,000 jobs, representing 4.5% of its workforce. Besides laying off its staff, Microsoft also announced shutting down its VR experience, AltspaceVR.
Similarly, Meta has been killing off some of its metaverse projects. Meta recently announced the shutdown of Crayta, a company it purchased less than two years prior. The company is also discontinuing Echo VR, a popular metaverse game in its Oculus ecosystem.
However, Microsoft is not killing off its metaverse aspirations. Last week, the tech giant published an article on its vision regarding immersive technologies saying that the company is committed to its Mixed Reality program and HoloLens 2.
Despite shutting down its Industrial Metaverse and AltspaceVR, Microsoft is putting resources into its leading metaverse platform, Microsoft Mesh. It’s currently testing the platform with select businesses and using their feedback to make further advancements.
Disclaimer
Any data, text, or other content on this page is provided as general market information and not as investment advice. Past performance is not necessarily an indicator of future results.
