Microsoft Move Metaverse Focus From Social To Business Tokenhell

The tech giant has announced its plan to focus more on the business aspect of the metaverse, with the firm about to close its virtual reality (VR) social platform, AltspaceVR, on March 10. As a result, the Microsoft team will focus on the business-oriented Microsoft Mesh in the coming years.

Shutting Down AltspaceVR

Founded in 2013 by the Facebook Reality Labs Social Experience head, Eric Romo, AltspaceVR has been the poster product of Microsoft’s metaverse initiative. However, the broader VR market has been slowed down by low investment due to the collapse of funding deals in the sector.

As a result, the firm revealed that it is shutting down its VR operations due to a shortage of funds. Microsoft swooped in to purchase the struggling company in 2017 for a yet-to-be-published sum.

As of then, media reports indicate that Microsoft’s strategic purchase is the first step toward placing the firm to compete with Facebook, now Meta, because the social media giant was on the verge of developing VR gadgets.

AltspaceVR is reportedly closing down for the second time, with a message from the team revealing that more opportunities wait in store in the business sector than with the retail consumer’s purchases. Due to the shift in focus, the team added that they intend to develop immersive metaverse experiences for only businesses under the Microsoft Mesh (MM) name.

A statement from the company reads, “the opportunity for VR is rapidly expanding beyond the consumer level to an institution that will offer even more excellent opportunities, accessibility, and security in its metaverse experience.”

The firm added that current users and developers could also host their final activities and download safer content.

Introducing The Microsoft Mesh

The Microsoft Mesh (MM) was unveiled in November 2021 to develop collaboration in the virtual space to make it more social and fun. MM became popular due to the work-from-home trend that has become pronounced in countries worldwide.

With this work shift, Microsoft took the opportunity to introduce real-world office scenes like “facial expression,” “chance encounters,” and body language into its virtual world work settings. Furthermore, Microsoft intends to recreate the numerous workplace encounters in its digital version of the office environment to make workers more productive and also onboard other users.

MM works as a part of the broader Microsoft Teams business communication system, which integrates team collaboration structures like chat and video conferencing. In addition, MM allows businesses to experience immersive mixed-reality experiences.

Brands continuously seek ways to expand their reach and attract new users, and the virtual ecosystem has emerged as the perfect opportunity to complement the company’s physical presence.

Since Facebook rebranded to Meta in October 2021, virtual reality has become the topic of discussion in the digital space. However, the metaverse concept for the business is still at its early stage; experts believe that technology can transform everything in the business world.

As the global metaverse market grows, the demand for more virtual-related services will also double in the coming years.

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