Disney layoffs affect the company's plans for the metaverse; understand

The decision will affect more than 50 team members who were dedicated to developing Disney-standard virtual worlds.

Disney's metaverse division was launched in February of last year, when the company appeared to be expanding its efforts in emerging technologies. However, the company appears to have lost enthusiasm for virtual worlds and is now scaling back its efforts to enter web3. The hiring of Mark Bozon, former executive at Apple, in June 2022, to lead Disney's creative metaverse strategy seemed to show that the company was withpromeachieved with this technology.

Although Disney has been optimistic about new technologies, with executives focused on and interested in virtual worlds and technologies, the company appears to have decided that the metaverse will notis no longer a priority. In July 2022, Disney launched a startup accelerator program focused on its “next-generation storytelling efforts,” but now it appears those efforts will be directed to other areas.

Read also

Meta announces layoffs of 10 employees

Meta, owner of the social networks Facebook and Instagram, will cut another 10 jobs, after a first wave of 11 layoffs at the beginning of November. The information was confirmed by the group's CEO, Mark Zuckerberg, this Tuesday (14).

TikTok owner may fire metaverse division employees, says Chinese newspaper

After Tencent admitted problems with the metaverse and announced the dismissal of employees dedicated to virtual reality, Bytedance, owner of TikTok, will also fire employees from the division that develops a headset for the metaverse. According to the newspaper 'South China Morning Post', some company groups could lose 30% of their employees with these layoffs. Even higher-level positions can suffer the consequences.