Disney to venture into metaverse after social networking giant Facebook

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  • After Facebook, Disney to become the next conglomerate to enter the metaverse realm
  • Other leading firms as well anticipated to join the bandwagon exploring opportunities in the metaverse

Walt Disney CEO Bob Chapek has reportedly stated that the company is poised to take the technological leap into a virtual reality world- metaverse. The announcement was made during Disney's quarterly earnings call.

For the uninitiated, the metaverse is a virtual world where people can communicate via their digital avatars. They can socialize, shop, participate in immersive experiences, collaborate on projects, and more.

Metaverse has become a popular destination since Facebook CEO Mark Zuckerberg highlighted the company's commitment towards establishing a robust, three-dimensional environment where users' digital avatars could work, hang out, and pursue their hobbies.

Chapek also mentioned that Disney's foray into the digital realm is in alignment with the company's long history of technological advancement, which dates back nearly a century to Steamboat Willie, the first cartoon to incorporate synchronized sound.

The CEO quoted that their efforts are merely a prelude to a time where they are looking forward to connecting the digital and physical worlds, enabling storytelling without limitations in their own Disney metaverse.

The firm is also seeking to provide consumers with unprecedented opportunities to experience everything Disney has to offer across their products and platforms.

Disney has previously endeavored to merge the physical and digital worlds. It released Disney Movies VR, which offers users an immersive experience of Marvel, Lucasfilm, and Pixar worlds. The Oculus VR headsets are used to experience virtual reality.

Other major tech companies, including game developers Roblox Corporation, Epic Games, and software giant Microsoft Corporation, are as well developing their own metaverses. More firms are anticipated to join the bandwagon, and tap into unexplored areas, to be a part of what is expected to be the next big thing on the internet.

Source Credit- https://www.businessinsider.in/tech/enterprise/news/disney-ceo-bob-chapek-confirms-the-company-will-build-its-own-metaverse/articleshow/87641073.cms