Wave, the virtual venue & virtual event production company formerly known as TheWaveVR, has moved away from virtual reality over the last two years in favor of distributing its virtual performances to a broader audience through non-immersive media channels. The company today announced that it has “de-prioritized” its VR app, which will officially shut down at the end of March. Wave says the move will allow it to focus on bringing “more fans [to] experience our virtual events on popular streaming platforms.”

Founded in 2016, Wave has raised some $40 million in venture capital, according to Crunchbase, to chase its vision of virtual concerts as the future of music performances. The company has produced virtual events headlined by well known artists…

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