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Microsoft shuts down its Metaverse project

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Software tech giant Microsoft laid off around 100 employees from its Metaverse project. 

Metaverse is a virtual reality based high-level concept that grabbed huge popularity among multinational companies in Q4 2021, after the decision of Facebook to rebrand the company name into Meta. Since late 2021, many companies are working on Metaverse-related projects to remain top in this race. 

Microsoft announced that the company decided to shut down its industrial metaverse team, which was established by the company four months ago under the name “Industrial Metaverse Core”. In this team, there were approximately 100 people.

Through the Metaverse team, Microsoft was working on building interfaces for operating control systems in electrical power plants and robotics and transportation networks.

Indeed, Microsoft took this decision as a part of the layoff round, amid the critical macroeconomic situation in the world. In the last few months, many giant tech companies reduced their workforce to maintain their financial position.

ChatGPT, Crypto sector & AI 

In the last few years, it has been seen that Microsoft allocated its attention toward the Artificial intelligence (AI) sector. Microsoft-funded ChatGPT AI is currently the centre of attraction in the internet world. 

Recently, Microsoft announced integration of ChatGPT in its internet search engine & browser Bing & Edge. 

No doubt that 2021 was a year for the Metaverse & Web3 trend and to this date many Crypto projects are taking Web 3 & Metaverse as a new trend to remain as a top active project in the industry but in the latest few projects showed significant Inclination toward the AI sector.

Recently popular Proof-of-stake (PoS) blockchain protocol Tron project shifted its significant Inclination toward AI technology. 

On 9 Feb 2023, Tron founder Justin Sun revealed that Tron launched a $100 million AI development fund. 

Read also: South Korea releases independent Crypto sanction against North Korea

Microsoft shuts down its Metaverse project



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