Disney is apparently done with the Metaverse. As The Wall Street Journal reports, Disney has given up on its own metaverse ventures, even though it’s only been a year since former CEO Bob Chapek launched his efforts to explore space.
The idea was apparently to use new technologies to explore how Disney could tell unique and interactive stories, but that was scrapped, with many members of this metaverse team losing their jobs, while leader Mike White stays with Disney. .
It also comes after Disney scrapped many other recent concepts and ideas, including an Amazon Prime-like subscription that was intended to be a single-user platform combining Disney+ and apps tied to its theme parks. .
Current CEO Bob Iger said he, too, sees a future in the Metaverse, but since Disney has been under a ton of pressure from investors to cut costs lately, the Metaverse division will continue to be the one of many casualties so far. .
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