According to recent reports, the Walt Disney Company has decided to dissolve its metaverse division. This division was created with the goal of developing a virtual world. It could be used to promote their films and other content. However, Metaverse was intended to be an interactive online platform. This platform would enable users to interact with immersive digital experiences.
New employment contract on the run
The Wall Street Journal reported on March 28. According to people familiar with the matter, the entire metaverse division, consisting of approximately 50 members, is set to be let go without a new employment contract.
However, the only exception is Michael White, who has been leading the broader consumer products unit. Disney recently patented a groundbreaking “virtual-world simulator,”.It was designed to enable headset-free augmented reality (AR) attractions at Disney theme parks by Dec. 28, 2021.
This technology could revolutionize the way people experience theme parks. Thus allowing them to explore virtual worlds without the need for bulky headsets or equipment. The firm also considered how to use metaverse technology for sports betting, but ultimately decided against it.
Unfortunately, Disney’s efforts have been unsuccessful in creating a viable product. Due to this, they have thus decided to close down the division and move on from the project.
Moreover, it is a shame that Disney’s vision for a revolutionary platform has not come to fruition. Hopefully, they will find more success in future endeavors.