Microsoft To Pull Down Curtains On AltspaceVR Social VR Platform, Focus On Metaverse Platform

Microsoft Corp MSFT prepared to sunset the AltpaceVR platform on March 10, 2023, and shifted focus to support immersive experiences powered by the metaverse platform Microsoft Mesh.
Through Mesh-enabled experiences, people can gather as 3D avatars of themselves in mixed reality.
Microsoft initially believed in social VR as a fun place for immersive games and its power to bring people together, build connections, and create shared experiences.
However, now, Microsoft looked to tap the opportunity for VR to expand beyond consumer into business into a more open, accessible, and secure version of immersive experiences in the metaverse.
With Mesh, Microsoft aspires to build a platform that offers the most comprehensive opportunity to all involved, including creators, partners, and customers.
Microsoft eyed the launch of Microsoft Mesh, a new platform for connection and collaboration, starting by enabling global workplaces.
In the near term, Microsoft concentrated on VR efforts in workplace experiences.
Over time, Microsoft aimed to extend to the consumer experience.
The global virtualization software market will likely reach $300 billion by 2033, at 22.3% CAGR from 2023 - 2033.
In 2023, Microsoft shared plans to downsize by 10K employees, equating to 4% - 5% of the total headcount.
Microsoft expected a ~$1.2 billion charge in Q2 to account for the restructuring.
The downsizing began in 2022.
In July, Microsoft called for about 10% revenue growth in the fiscal first quarter, slower than it’s been in more than five years.
Last December, Microsoft shared plans to discontinue an experimental research project that leveraged audio-based technology to help visually impaired people navigate surroundings.
Price Action: MSFT shares traded higher by 0.26% at $240.85 in the premarket on the last check Monday.

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