According to the Los Angeles Times, Walt Disney is interested in entering the metaverse.
The Walt Disney Company has brought its characters to life in theme parks and expanded its franchises via streaming platforms.
The corporation, recognized for creating realistic experiences in its parks that bring its characters to life in various ways, will aim to keep up with new ways to cope with future strategies, with the new version of the internet mixing the real and digital worlds.
It is now attempting to catch up with the times by preparing for the internet's next evolutionary leap.
The Burbank entertainment conglomerate has begun planning its approach to a future version of the internet that combines the physical, digital, and virtual, called the metaverse, or Web3, by futurists, IT executives, and investors.
According to people familiar with the talks who were not authorized to comment, Mike White, the Disney executive charged with leading the company's foray into the space, met with senior Disney leaders this week to lay out the broad strokes of a metaverse strategy in terms of what they're calling “next-generation storytelling.”
According to people familiar with the talks who were not authorized to comment, Mike White, the Disney executive charged with leading the company's foray into the space, met with senior Disney leaders this week to lay out the broad strokes of a metaverse strategy in terms of what they're calling “next-generation storytelling.”
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According to these sources, White has been meeting with CEOs from several Disney divisions in recent weeks to form a task group and explore early models for how to best address future technology.
According to the source, Meta CEO Mark Zuckerberg discussed the Horizon Metaverse and the Meta Quest 2 augmented reality and VR equipment.
He also hinted at the debut of metaverse products later this year.
He stated that Meta's switch to the short-form video had not monetized as well, but that the firm was enthusiastic about the future.
“It will take all of the fantastic things that we have as a media company with Disney+ and use that as a platform for the metaverse,” Chapek explained. “But, at the same time, we have something no one else has: the actual world, a world of our parks.” So, if the metaverse is the fusion of the physical and digital in a single space, who better to execute it than Disney?”
In 2020, a Disney parks executive posted an essay on LinkedIn predicting a future in which wearable technology and smartphones would be utilized to “transcend the physical and digital divide.”
Disney has declined to comment on this article.
The corporation has already experimented with blockchain-based technologies such as nonfungible tokens (NFTs), which are essentially unique computer codes used to authenticate ownership of products. It debuted a line of “Golden Moments” NFTs resembling statues inspired by Disney, Pixar, Star Wars, and Marvel stories last year, for example.
Several entertainment companies are dabbling in metaverse technologies. Studios like as Sony, Warner Bros., and Lionsgate participated in the NFT craze in the last year or two by minting souvenirs based on their films.
Former WarnerMedia CEO Jason Kilar spoke to The Times earlier this year about plans for developing interactive worlds where fans can practically live and breathe the Wizarding World of Harry Potter.
In February, during a Disney earnings conference call, one analyst mentioned that software development was one area where the firm struggled. That will have to change if Disney expands into new areas like as the metaverse and sports betting. Chapek stated that as Disney grows, making technology a key strength will be “front of mind.”
“We recognize that it will be less of a passive experience,” Chapek added. “And this is a real top-of-mind issue for us because we are continuing to enhance our talents and the types of individuals we draw into the Walt Disney Company to represent our aggressive and ambitious technology goal.”
