Disney, one of the world’s largest entertainment companies, is reportedly shutting down its Metaverse division as part of a larger restructuring effort. The news comes as a surprise to many, as the Metaverse division was seen as a key part of Disney’s future plans.
The Metaverse division was responsible for developing virtual reality and augmented reality experiences for Disney’s various properties, including Star Wars and Marvel. The division was also working on a new platform that would allow users to interact with Disney’s characters and properties in a virtual world.
According to reports, the decision to shut down the Metaverse division was made as part of a larger effort to streamline Disney’s operations and focus on its core businesses. The company has been hit hard by the COVID-19 pandemic, with its theme parks and movie theaters closed for much of the year.
While the news is undoubtedly disappointing for fans of Disney’s virtual reality and augmented reality experiences, it’s important to note that the company is still committed to innovation and new technologies. In fact, Disney has recently announced a partnership with Microsoft to develop new cloud-based streaming services for its content.
In addition, Disney has also been investing heavily in its streaming platform, Disney+, which has seen tremendous success since its launch last year. The platform has already surpassed 60 million subscribers, and Disney has announced plans to release a number of new original series and movies exclusively on the platform in the coming years.
So while the closure of the Metaverse division is certainly a setback for Disney’s virtual reality and augmented reality efforts, it’s clear that the company is still committed to innovation and finding new ways to engage with its audience. As always, fans can expect Disney to continue pushing the boundaries of entertainment and technology in the years to come.
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