Methods and system for managing and displaying virtual content in a mixed reality system

Disclosed is an approach for managing and displaying virtual content in a mixed reality environment on a one-on-one basis independently by each application, each virtual content is rendered by its respective application into a bounded volume referred herein as a "Prism." Each Prism may have characteristics and properties that allow a universe application to manage and display the Prism in the mixed reality environment such that the universe application may manage the placement and display of the virtual content in the mixed reality environment by managing the Prism itself.