While AltspaceVR is currently keeping details close to its chest, the venture-backed company appears to have found a solution to their recent financial difficulties, where they were unable to secure additional venture funding.
Virtual reality social network AltspaceVR is staying online, after abruptly announcing its shutdown late last month. Despite a sudden drop in funding, the platform now says it’s “deep in discussions” with unspecified parties who “want to guarantee that our virtual oasis stays open.” A small crew of people is keeping the site running with bare-bones support, and community members stepped in to help manage it during the shutdown process. “We are so thankful that you, our hosts, and our community have made what AltspaceVR is today — a place worth saving,” reads a letter sent to users last night.
AltspaceVR said in July that investors were too apprehensive about VR to keep funding the 35,000-strong community, and when a deal for its next round of funding fell through, it had no choice but to shut down. We don’t know who’s behind its resurrection, but it could be Oculus co-founder Palmer Luckey, who asked Twitter followers whether he should save the platform. And in another move supporting this theory, Luckey himself tweeted the news last night.
In a message to Road to VR, a spokesperson for AltspaceVR stated “We are now in discussions with third parties to develop a sustainable solution to continue development and growth for the future. We look forward to communicating more when possible over the coming weeks and months.”
Join Virtual Social Network Platform Here