Bitcoin News and Finance
Microsoft Layoffs Reportedly Hit Key VR and Metaverse Teams Skip to main content

Microsoft Layoffs Reportedly Hit Key VR and Metaverse Teams

microsoft vr metaverse layoffs

The latest round of layoffs at Microsoft, which announced it will cut 10,000 jobs this year, has hit key teams for its VR (virtual reality) and metaverse efforts, according to reports. The company will close two projects in these areas, Altspacevr and the Mixed Reality Tool Kit, potentially affecting the progress of Microsoft in these areas.

Microsoft VR and Metaverse Teams Hit by Layoffs

The latest round of layoffs announced by Microsoft on Jan. 18, has reportedly hit metaverse and VR (virtual reality) initiatives of the company, potentially affecting progress in these areas. Among the 10,000 jobs to be cut this year, representing 5% of Microsoft’s global workforce, teams behind initiatives like Altspacevr and the Mixed Reality Tool Kit are being axed as part of this reorganization process.

Altspacevr, which was acquired by Microsoft in 2017, has already announced it will sunset its platform on March 10. The platform, which was aimed at providing services to facilitate the creation of virtual environments for events with the participation of artists, creators, brands, and businesses, will migrate to Mesh, a more work-focused platform that has integration with Microsoft Teams.

The Mixed Reality Tool Kit, an open-source set of tools to build user interfaces for the metaverse will also ostensibly be abandoned, as there are no announcements of new teams dedicated to its development at the time of writing.

Metaverse and VR Slowdown

While the company justified these layoffs as a measure to align its cost structure with revenue and customer demand, some believe that these localized layoffs in the metaverse and VR sector signal the slowdown of the advancements of the company in this area.

The reported layoffs at Microsoft affect initiatives focused on the consumer metaverse primarily, following the course that Meta has taken by laying off 13% of its workforce, shedding 11,000 jobs.

However, the higher-ups at Microsoft are believers in the metaverse and other disruptive technologies, and the progress these will bring in the future. Recently, Satya Nadella, CEO of the company, stated that the sense of presence that metaverse tech can bring is game-changing.

Microsoft is also involved in the creation of the Global Collaboration Village — the metaverse world of the World Economic Forum (WEF) — and has shown interest in investing in AI (artificial intelligence) projects such as Openai, creators of AI bot Chatgpt.

What do you think about the layoffs affecting metaverse and VR-focused teams at Microsoft? Tell us in the comments section below.

Labels:

Comments

Post a Comment

Popular posts from this blog

Custodial Lightning Network Service Attack Discovered by LN ‘Newbie’ — Hacker Strikes 6 LN Custodians

On September 18, a Redditor posted to the r/bitcoin forum and explained how he discovered a way to “attack [the] lightning Network’s custodial services.” The Reddit account dubbed “Reckless Satoshi” wanted to figure out if a “discrepancy between real routing fees and service’s transaction fee can be exploited for a profit.” The researcher disclosed that he wanted to see how large the damage could be and said “it is bad.” 6 Lightning Network Custodial Services Attacked, Researcher Discloses Findings to Offenders Prior to Public Disclosure A Redditor called Reckless Satoshi published a disclosure post on r/bitcoin this past Saturday and disclosed how he had found a vulnerability with routing fees and some of the Lightning Network’s custodial services. The research attack was done in good faith and after it was complete he disclosed the bugs to the offending services before publishing his findings. Reckless Satoshi used the Lightning Network (LN) attack on six different services incl...
Post a Comment
Read more

Axie Infinity Down 40% Since Last Week’s Price High, Protocol Revenue Outshines Competitors

Last week, the game token leveraged within the Axie Infinity gaming universe skyrocketed to all-time highs, while other crypto markets remained extremely lackluster. During the last seven days, Axie Infinity’s platform token has dropped significantly in value shedding more than 12%. Meanwhile, the game platform’s smooth love potion token has slid over 8% over the last 24 hours. Axie Infinity Down More Than 40% Since All-Time High Not too long ago, the axie infinity (AXS) token was a topical conversation because it reached an all-time high on July 15. At the time, AXS managed to capture $28.93 per unit and since then it has shed 12.8% during the last seven days. The axie infinity (AXS) token is used within the blockchain-based game that involves battles between token-based creatures called “Axies.” AXS is used for the game’s governance system as well as other actions within the game. At the time of writing axie infinity (AXS) is exchanging hands for $16.70 per coin. AXS/USD on Ju...
Post a Comment
Read more

Play-to-Earn Game From Polker (PKR) Exchange Listing – Endorsed by Akon

The Play-to-Earn NFT based Polker.Game ‘s native token $PKR has been officially listed on the popular centralized exchange BitMart. Polker.game has been in the spotlight recently as Akon, the American R&B superstar and record producer gave his official endorsement of polker stating that the “game is revolutionary” and that Polker is “hands down.. the best play to earn, NFT game in the space.”. With the BitMart listing and celebrity endorsement from Akon, Polker is perfectly positioned to become a major player in the Play-to-Earn league. Watch Akon’s Video Here What is Play-to-Earn? Although not a new concept, play-to-earn has become a trending term due to the popularity of the NFT game AXIE infinity. In the past, previous play-to-earn games have also achieved success – however, thanks to the huge amount of development in the blockchain space in recent years the gaming experience is now massively improved. Play-to-Earn games are essentially free to play and open to anyone and...
Post a Comment
Read more

China to Crack Down on Copyright Infringement Through NFTs

Authorities in China are going after creators of digital collectibles based on other people’s works of art, the use of which was not authorized. The government offensive is part of a campaign to combat online copyright infringement and piracy with the participation of several departments. Regulators in China Move to Strengthen Copyright Supervision of Online Platforms The National Copyright Administration of China (NCAC) has recently launched a campaign against copyright infringement and piracy on the internet, together with the Ministry of Industry and Information Technology, the Ministry of Public Security, and the State Internet Information Office of the People’s Republic. A major objective of the initiative is to improve copyright supervision of online businesses by investigating cases involving the sale and distribution of infringing products on short video, live broadcast and e-commerce platforms, and promptly dealing with infringing content, the agency announced in a press r...
Post a Comment
Read more
Blogarama - Blog Directory