Disney Goes to Create “Its Own” Metaverse using NFT

Bob Chapek, CEO of Disney, one of the largest holdings in the entertainment industry, announced that he is preparing the company to combine physical and digital assets in the metaverse.

“The Walt Disney Company has a long history of using technology to improve entertainment,” Chapek said Wednesday during the company’s quarterly income statement. “Our efforts today are just a prologue to the time when we can connect the physical and digital worlds even more closely, allowing stories to be told without boundaries in our own Disney metaverse, and we hope to create unprecedented opportunities for consumers to experience everything that Disney offers for our products and platforms wherever the consumer is. ”

Disney has already entered the virtual reality space with games and experiences that allow users to virtually interact with Disney characters and environments. In particular, the Star Wars franchise has gained virtual reality through its relationship with ILMxLAB, Lucasfilm’s immersive entertainment studio, and guests at Disneyland amusement parks will also get a special preview of Star Wars Tales from Galaxy’s End on Oculus Quest 2 later in November. …

Czapek’s comments come amid an emerging “metaverse race,” with tech and entertainment companies likely to watch closely as Meta, recently renamed from Facebook, is shifting its focus to augmented and virtual reality in plans to develop its own metaverse. In a letter posted on October 28, the Facebook founder described the metaverse as “the embodied Internet” created by several companies.

“The metaverse won’t be built by one company,” wrote Zuckerberg, who said Meta is investing $ 10 billion in the metaverse. “It will be created by creators and developers who create new experiences and digital elements that interact with each other and discover a much broader creative economy than the one constrained by today’s platforms and their policies.”

At this point, the metaverse seems more of a dream than a reality, but tech companies like Microsoft have already gotten into the fray with 3D avatars and other interactive virtual meeting features. And while Capek did not provide any details about his plans for the Disney metaverse, the emphasis on connecting the “physical and digital worlds” follows the company’s recent experiments in virtual reality and the promotion of the Disney + streaming platform (not available in Russia).

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