Quick take:
- Microsoft has scrubbed its industrial metaverse project according to sources cited by The Information.
- The tech-focused publisher said Thursday that the computing software giant had also laid off all 100 members involved in the project.
- The industrial metaverse is a segment of the metaverse industry that leverages digital twining to improve productivity and efficiency.
Microsoft is shutting down its industrial metaverse project because of the amount of investment required to start generating revenue. A person with knowledge of the matter told The Information on Thursday that the company also laid off all 100 members of the team.
According to the source, Microsoft will instead focus on short-term projects over those that are likely to take a long period before generating revenues.
Before disbanding the project, Microsoft was one of the leading players in the industrial metaverse segment. Last year, the technology giant teamed up with Kawasaki Robotics to create robots.
The industrial metaverse is a segment of the metaverse industry that leverages digital twinning technology to improve productivity and efficiency. Kawasaki Robotics engineers wore Microsoft HoloLens to overlay 3D virtual models of products on real-life structures.
Microsoft’s cloud services product Azure teamed up with Hadean a metaverse tech startup to deliver secure cloud-based military training capabilities.
Azure had previously collaborated with the British military for another training program.
In July last year, Microsoft also launched Project AirSim, a metaverse-based drone training program built on Microsoft Azure.
Microsoft only formed the industrial metaverse team four months ago following successful collaborations with companies in other projects. The team focused on building interfaces for health care, retail financial services and energy sector clients looking to leverage metaverse technology for improved productivity and efficiency.
In an email to CoinDesk, Microsoft said the industrial metaverse project remains an important part of their plans for the future, adding that the focus is being applied to the areas that matter most.
“Microsoft remains committed to the industrial metaverse. We are applying our focus to the areas of the industrial metaverse that matter most to our customers and they will see no change in how they are supported. We look forward to sharing additional information in the future,” CoinDesk reported.
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