Comcast Ventures Invests In Social VR Company AltspaceVR

Business / Tech

Like a lot of other technology based companies out there Comcast is investing money into Virtual Reality (VR), more specifically social VR. Social virtual reality is a new space and is hedging its bet that users will want to interact with each other through social channels using virtual reality. It’s an interesting concept and one that still has a little ways to develop, but I think eventually there could be an adoption of the technology into everyday life. Social VR could even be used for business meetings when someone is making a presentation. Currently most regular users would wonder why on earth would we need such a thing but it’s companies like AltspaceVR that help innovate future product.

AltSpaceVR is the leader in “social VR”. Their product allows users to communicate and share experiences in a 3D virtual online environment, where they can co-view media, play a cooperative game, discuss a 3D model, tour a real-world drone-captured volcano or have a private conversation in the corner of a virtual living room. One of the most compelling features is the ability to watch streaming video from services like YouTube, Netflix and Twitch in VR. Imagine Game of Thrones streamed in a 2D web player in the shape of a TV screen hanging on the wall of a 3D space you are sharing with a friend on the other side of the world.

Most VR content in the market today takes the form of 2 – 3 minute “shorts”, which makes sense given the early stage of the content and hardware ecosystem. AltSpace has average users session times of 25 minutes, which is an industry leading time for engagement. The reason users stay engaged, some up to several hours at a time, is because AltSpaceVR is inherently about social communication.

“One of the things people love to do in AltspaceVR is watch things together. They watch Netflix, Twitch and YouTube. We’re excited that Comcast knows a ton about content. They can help us understand that content landscape,” says Eric Romo, CEO and Founder of AltSpaceVR.

It will be interesting to see how Comcast can help AltspaceVR further their development and watch the technology grow.

What do you think of AltspaceVR? Let us know in the comments below or on Google+, Facebook and Twitter.

  Source: Comcast   Source: Altspace VR

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