Home Market Disney is disbanding its Metaverse group amid main layoff

Disney is disbanding its Metaverse group amid main layoff

Disney is disbanding its Metaverse group amid main layoff

  • Disney had chosen Polygon for the metaverse challenge.
  • Disney was concentrating on NFTs for its next-gen storytelling and buyer experiences.
  • The corporate is presently streamlining its enterprise.

Disney started growing a metaverse technique in mid-2022 and introduced that it will leverage the Polygon blockchain for the challenge. Earlier in October 2021, Citi launched a report indicating that Disney, Digital Arts, and WWE have been poised to develop into among the many greatest recipients of non-fungible tokens (NFTs).

The corporate additional gave the impression to be accelerating the deployment of sources by posting a job posting for an professional in-house lawyer for DeFi and NFT in September 2022. The particular person Disney was trying to rent needed to be an skilled company lawyer who would “work on the transactions”. involving rising applied sciences together with NFTs, blockchain, metaverse and decentralized finance.

Nonetheless, in accordance with the Wall Road Journal, Disney’s metaverse plans nonetheless appeared hazy a 12 months later.

Enterprise rationalization

Disney is presently shedding round 7,000 workers because it tries to regulate prices and develop what CEO Bob Iger calls a “streamlined enterprise”. The layoff will have an effect on the 50 workers of the metaverse challenge.

The dissolution of next-gen storytelling and shopper experiences reveals that Disney is questioning the continued worth of Web3.


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