Intel has cancelled its upcoming “Vaunt” smartglasses due to a lack of investment. The Vaunt, or codename “Superlight, as it was known internally, has been described by The Verge to be non-intrusive smart-wear.

The wearable device would be packing a retinal laser projector along with other electronics in its frame and looked quite sleek in comparison to competing products already on the market. The low-powered laser projector would beam a red, monochrome 400 x 150 pixel image into the lower corner of your field of view. This would eliminate the need for a protruding display medium and only display an image if you happened to glance in the direction the laser is projected.

In a statement to Engadget, Intel confirmed Superlight’s cancellation

“Intel is continuously working on new technologies and experiences. Not all of these develop into a product we choose to take to market. The Superlight project is a great example where Intel developed truly differentiated, consumer augmented reality glasses. We are going to take a disciplined approach as we keep inventing and exploring new technologies, which will sometimes require tough choices when market dynamics don’t support further investment,” the firm said.

This news also confirms a Bloomberg report from earlier this year that stated that Intel was looking at selling a majority stake in their augmented reality device division. This division was reportedly valued at around $350 million.

Intel withdrawing from the smart glasses market might be detrimental in the long term but with companies such as Amazon, Google and Apple still highly invested in the technology, consumers may still get a futuristic, highly functional device in the near future.