American media conglomerate Walt Disney has abandoned the idea of ​​creating a metaverse, The Wall Street Journal has found.

Walt Disney Disbands Metaverse Development Team

Previously, the company’s CEO, Bob Chapek, hired former CEO Mike White to create new interactive formats for popular Disney characters. More than a year ago, a team of about 50 people was formed for these purposes.

According to the newspaper, over the past year, the team has been unable to submit ideas that would be accepted by management. As a result, the team had to be disbanded. However, the reductions did not affect White himself, the newspaper writes. He will remain with the company, but it is not yet clear what position he will occupy.

Interest in the world’s metauniverses is only growing. According to DappRadar, in the first months of 2023, sales of virtual land reached a turnover of $311 million and the authorities of the South Korean capital Seoul opened to users the Metaverse Seoul project, which had been developed for more one year old .

Author:

Natalia Gormaleva

Source: RB

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I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.

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