February 14, 2023

Microsoft Abandons Its Metaverse Section

Microsoft Abandons Its Metaverse Section Featured Image

Microsoft

Software giant Microsoft announced the closure of its Industrial Metaverse Core group, one of its most remarkable groups dedicated to the development and promotion of the industrial metaverse.

According to Bitcoin News, the US-based company laid off 100 employees, who were at the group and part of the 10,000 staff layoff rounds announced in January. The team was created in October to generate virtual environments for different industries by bridging software to this initiative.

It seems that Microsoft abandons the virtual world in favor of other initiatives as it announced pumping in new investments worth $10 billion in January also. The company noted that the products built by the team would be supported in the future.

“We are applying our focus to the areas of the industrial metaverse that matter most to our customers and they will see no change in how they are supported. We look forward to sharing additional information in the future,” Microsoft said in a statement.

Moreover, Microsoft will shut down its AltspaceVR, a social virtual worlds platform acquired by Microsoft in 2017 meant to create virtual space. However, the software giant is shifting its focus from the metaverse to other areas like artificial intelligence (AI).

Microsoft is currently paying attention to investing in startups, topped by its multi-billion dollar investment in Openai, the company behind the development of GPT-3, and its ChatGPT interface. ChatGPT is considered the fastest-growing consumer app in internet history, as it reached 100 million users in just two months.

A metaverse is a network of three-dimensional virtual environments focusing on social interaction. It may be characterized as a digitally simulated world. It utilizes blockchain, augmented reality, and virtual reality (VR), combined with social media principles, to develop venues for extensive user communication that imitate the real world.

The metaverse is an encompassing word for technologies that aid in creating a whole digital world similar to the real one. This universe can be incredibly comprehensive and encompass a broad range of various planets, sometimes referred to as virtual environments.

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