TL:DR
- Disney has cut its “next-generation storytelling and consumer experiences unit,” which was dedicated to developing metaverse strategies.
- This comes as part of company-wide layoffs that are expected to see around 7,000 leave the company over the next two months.
- Disney’s metaverse strategy remained obscure for a year after the creation of the unit.
Disney cuts metaverse experience
Disney has cut its “next-generation storytelling and consumer experiences unit,” which was dedicated to developing metaverse strategies. This comes as part of company-wide layoffs that are expected to see around 7,000 leave the company over the next two months. One of the many different Web3 incarnations of Tarzan is swinging from the African jungle into Web3 via a new multi-year licensing deal between digital fashion studio XLABEL and the estate of the character’s original creator, Edgar Rice Burroughs. Disney’s metaverse strategy remained obscure for a year after the creation of the unit. The company hinted that the metaverse could play a role in fantasy sports, theme-park attractions, and other consumer experiences.
The metaverse is the latest buzzword in the tech world. It is a virtual world where people can interact with each other and digital objects, and it has been touted as the future of the internet. Companies like Facebook, Microsoft, and Meta have invested heavily in the metaverse, and many others are following suit. However, Disney seems to be taking a different approach.
Disney first signaled its interest in the metaverse in 2022 when the company created its “next-generation storytelling and consumer experiences unit.” This team was responsible for using Disney’s vast library of intellectual property to tell interactive stories in new formats. The team was dedicated to developing metaverse strategies, and the company hinted that the metaverse could play a role in fantasy sports, theme-park attractions, and other consumer experiences.
However, it seems that Disney’s metaverse strategy remained obscure for a year after the creation of the unit. There was no public announcement or indication of what the team was working on. The company did not provide any details about its plans for the metaverse, and it was unclear how it intended to use its vast library of intellectual property in the virtual world.
Now, the company has cut its “next-generation storytelling and consumer experiences unit” as part of company-wide layoffs that are expected to see around 7,000 leave the company over the next two months. The team of around 50 was dedicated to developing metaverse strategies, according to the Wall Street Journal. The team was responsible for using Disney’s vast library of intellectual property to tell interactive stories in new formats. The team’s head, Mike White, will reportedly stay on at Disney.
This move by Disney is surprising, as the metaverse is seen as the future of the internet, and many companies are investing heavily in it. However, it seems that Disney is taking a different approach. The company’s metaverse strategy remained obscure for a year after the creation of the unit, and there was no public announcement or indication of what the team was working on. It is unclear what this means for Disney’s future in the metaverse.
The metaverse is still in its early stages, and it is unclear how it will evolve in the coming years. Many companies are investing heavily in it, but there are also concerns about the metaverse’s impact on society. Critics argue that the metaverse could lead to further isolation and addiction and that there could be negative consequences for mental health and social interaction. However, proponents of the metaverse argue that it could provide new opportunities for education, entertainment, and social connection.
The Metaverse
It is worth noting that there are ongoing discussions and debates about the potential impact of the metaverse on society. Some experts believe that the metaverse could be a positive development, offering new ways for people to connect and engage with each other in a virtual world. Others are more skeptical, raising concerns about the potential negative consequences of spending too much time in a digital space.
Critics of the metaverse argue that it could lead to further isolation and addiction, as people spend more time in a virtual world and less time in the real world. They point to research that suggests that excessive screen time can have negative effects on mental health and social interaction. For example, a study by the American Psychological Association found that social media use was associated with higher rates of depression and anxiety in young adults[1].
Others worry that the metaverse could exacerbate existing social inequalities. For example, some experts have raised concerns that the high cost of entry to the metaverse could create a digital divide between those who can afford to participate and those who cannot[2]. They also point to potential issues around data privacy and security in a virtual world.
Despite these concerns, proponents of the metaverse argue that it could offer new opportunities for education, entertainment, and social connection. They point to examples of how the metaverse has already been used for positive purposes, such as virtual concerts and events that bring people together from around the world[3]. They also argue that the metaverse could be a valuable tool for education, allowing people to learn in immersive, interactive environments.
Overall, the impact of the metaverse on society is still largely unknown. While there are concerns about the potential negative consequences of spending too much time in a virtual world, there are also opportunities for positive experiences and new forms of social connection. As the metaverse continues to evolve, it will be important to monitor its impact and consider ways to ensure that it benefits society as a whole.
Thanks for reading Solanews , remember to follow our social media channels for more!