Microsoft's Unexpected Shift: The End of the Industrial Metaverse Project

GM Guys and Gals,

We've got some big news from the tech giant, Microsoft. The company has reportedly disbanded its Industrial Metaverse Project just four months after its formation. Here’s everything you need to know about this [👇🏻]

According to a report by The Information, all 100 members of the team have been laid off as part of Microsoft's larger plan to lay off 10,000 employees, about 4.5% of its workforce, which was announced last month.

The Industrial Metaverse Core team was formed in October to work with clients in healthcare, retail financial services, energy, and other industries to build software interfaces that could be used to drive metaverse-related projects.

The metaverse is a theoretical world where the internet becomes an immersive virtual environment that can be used for work, play, socializing, and events.

While companies like Microsoft and Meta (formerly Facebook) are enthusiastic about the metaverse, it is still in its early stages of development and remains largely theoretical.

Despite this setback, Microsoft has assured its commitment to the industrial metaverse and will focus on the areas that matter most to its customers.

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To the Moon 🚀