Seattle-based virtual reality startup Vreal has shut down as a result of the VR market’s sluggish expansion. The companybroke the news on its website, and explained its entire team has been laid off.
Vreal had raised $15 million in venture capital since its inception in 2015, and was working on a virtual reality streaming platform that would let viewers create avatars and interact with fellow fans and broadcasters in a shared VR space.
While that sounds like a novel idea, the company explained the VR market simply didn’t expand fast enough for the platform to gain traction.
“Vreal started with an ambitious idea – VR is immersive, and VR content should be immersive too. For those that are a part of the VR community, it’s always inspiring to see the wonder and awe on a friend’s face when you first put the