Microsoft has not officially confirmed it but some screenshots released by the company pretty much confirms that Windows Live would soon get web based video chat capabilities.
Microsoft already owns Skype which offers web based video chat on the Facebook platform. The same technology might be powering this upcoming functionality from Microsoft on their Windows Live platform.
Microsoft of course already has video chat capabilities in their Windows Live Messenger desktop app.
It would be interesting to see if this feature would work with both Skype and Windows Live Messenger.
Microsoft needs this feature to take on the Google Hangout feature which has become one of the most popular aspects of the Google Plus platform.