What's Hot

    Circle Launches EURC on Stellar Network

    September 28, 2023

    Gemini Allocates $24 Million for Indian Expansion

    September 28, 2023

    Kraken Secures EMI License from Ireland and Spain

    September 28, 2023
    Facebook Twitter Instagram
    Facebook Twitter Instagram
    The Bull's GazetteThe Bull's Gazette
    Members Area
    • News
      1. Markets
      2. Policy & Economy
      3. Business
      4. Tech
      Featured

      Circle Launches EURC on Stellar Network

      News September 28, 2023
      Recent

      Circle Launches EURC on Stellar Network

      September 28, 2023

      Gemini Allocates $24 Million for Indian Expansion

      September 28, 2023

      Kraken Secures EMI License from Ireland and Spain

      September 28, 2023
    • Features
      • Opinion
    • Research
      • Publications
      • Market Analysis
      • Contribute
    • Finance & Crypto Guides
    • Consultation
    • Membership
    • Store
    The Bull's GazetteThe Bull's Gazette
    Home»News»Business»Microsoft Shuts Down Metaverse Team
    Business

    Microsoft Shuts Down Metaverse Team

    Anietie DavidBy Anietie DavidFebruary 10, 2023Updated:February 10, 2023No Comments2 Mins Read
    Microsoft Shuts Down Metaverse Team
    Share
    Facebook Twitter LinkedIn Pinterest Email

    Microsoft has laid off its industrial metaverse team consisting of around 100 employees. The team was focused on creating metaverse features in industrial settings.

    Microsoft is the next big tech company to cut plans for the Metaverse. The company announced that it was shutting down the Industrial Metaverse team that it formed about four months ago. About 100 employees were reportedly laid off. This particular Metaverse team is called the “Industrial Metaverse Core” and focuses on industrial environments. In particular, it aims to build interfaces for operational control systems in power plants, robotics and transport networks, reports The Information.

    Microsoft is one of several high-profile tech companies to carry out layoffs. Other companies in this category include Google, Amazon, Salesforce, and Meta. These actions have convinced some that the Big Tech era is over. Still, big tech companies continue to make significant strides in technology development. Microsoft is at the heart of ChatGPT, a revolutionary artificial intelligence service that it funds. The company recently announced the integration of ChatGPT into its Edge browser.

    Microsoft’s decision to shut down the Metaverse team is interesting because it shows enthusiasm for the niche. A HoloLens mixed reality device has been in the works for years, although there’s no indication it will be a commercial success. Company executives also described the importance of the industry as we move into an increasingly digital world.

    Microsoft CEO Satya Nadella himself spoke about the benefits of the Metaverse. Of course, acquisitions of companies like Altspace VR and the continued acquisition of Activision Blizzard point to the Metaverse strategy. However, Microsoft announced its decision to shut down the former last month.

    Microsoft Joins Meta in Leaving the Metaverse

    Other companies have also lowered their Metaverse-related ambitions. Meta announced it would shut down Crayta, which it bought less than two years ago.

    After 2.5 years of fun and creativity, we’re sad to announce the closure of Crayta on all platforms, from 4pm GMT (8am PT) on Friday March 3rd 2023. Read our announcement & FAQs below.

    Thank you, Craytans – we love you. ❤️

    — Crayta 🎓🧟‍♀️ (@CraytaGame) February 1, 2023

    The company also shut down Echo VR, a Metaverse game that was popular in its ecosystem. Meta is also on an acquisition spree and wins a lawsuit against the FTC. Meta can now buy Within, which the FTC considers an anticompetitive practice.

    Metaverse Microsoft
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Telegram Email
    Previous ArticleDubai Ban Transactions With Monero and Privacy Coins
    Next Article Kraken Stops Staking Services for U.S Clients
    Anietie David

    Anietie has worked in the blockchain industry for three years, gaining experience in blockchain technology, cryptocurrencies, DeFi, and NFTs. As a seasoned content writer, he is passionate about creating effective content strategies for blockchain brands. In addition to content writing, he also has a strong interest in front-end development. When he's not working, he spends his time reading horror novels or playing CODM.

    Related Posts

    Hong Kong Report Reveals Positive Impact of Bond Tokenization on Market

    August 26, 2023

    China Mobile’s Proposal for “Digital Identity System” Raises Concerns Over Privacy and Freedom

    August 22, 2023

    PayPal Introduces Cryptocurrencies Hub in Latest Update

    August 14, 2023
    Add A Comment

    Leave A Reply Cancel Reply

    Top Posts

    Hong Kong Monetary Authority (HKMA) Issues Warning on Misleading Crypto Banking Claims

    September 18, 2023

    Report Shows that 99% of Nigerians are Crypto Aware

    September 4, 2023

    Hong Kong Report Reveals Positive Impact of Bond Tokenization on Market

    August 26, 2023

    Our best content, straight to your inbox.

    Disclaimer

    Capital at risk. Content on this website does not constitute financial advice. Please do your due diligence before making any investment.

    Company
    Company

    At the forefront of news and analysis for emerging markets, business, crypto and tech - TBG is redefining financial information through resources for next-generation economics.

    Facebook Twitter Instagram LinkedIn TikTok Discord
    Links
    • About
    • Contribute
    • Advertise
    • Careers
    • Membership
    • Investor Relations
    • Frequently Asked Questions

    TBG Newsletter

    © 2023 The Bull's Gazette.
    • Terms and Privacy
    • Contact Us

    Type above and press Enter to search. Press Esc to cancel.