What AltspaceVR’s shutdown says about virtual reality’s prospects

Fans of virtual reality felt a punch to the gut this week as AltspaceVR announced it would hold its last social VR gathering on August 3 and then shut down.

AltspaceVR was a social space in VR where people could gather in environments that resembled virtual worlds. They could create their own avatars and chat with friends. As such, AltspaceVR was like a harbinger of what the world would look like as a virtual society. Facebook followed up with its own version of social VR chat, while others — such as Rec Room, Roblox,  Linden Lab, and TheWave VR — have offered their own takes on social VR.