Popular Social VR Platform Altspace VR says goodby to the VR ecosystem on August 3rd as it hosts its final event.
Over the last couple of years, Altspace VR has become one of the leading social VR environments but today the Redwood City, California, company has announced they will be closing up their virtual doors on August 3rd. This is some very surprising news to many.
Around 35,000 people use Altspace VR every month and big events typically see around a thousand attendees. The platform has attracted marquee partners for their events including Drew Carey, Duncan Trussell, Justin Roiland, Al Roker, Chuck Todd, and Reggie Watts.
According to the email sent out to the press that though the company had a supportive group of investors that last gave them money in 2015 their next round of funding fell through. A combination of this deal falling through and the general slowness of VR market growth made most investors reluctant to fund us the company any further. Though Altspace VR had been out fundraising they have run out of time and money. With Facebook taking a bigger leap into social VR and upstarts like TheWaveVR finding traction in niche social groups investors may have no longer seen Altspace VR as a viable social VR competitor.
I do know the company has tried and I for one have been in many Altspace events and seen how much the community loves the platform.
Many in the community are legitimately shocked and a few very hurt by the loss of their beloved community. Here are just a few from Twitter.
Here is the message sent to the community via email.
Tough to see them go. Here is a post from better times for them.