Disney is done with its metaverse efforts

Disney is seemingly done with the metaverse. As reported on by The Wall Street Journal, Disney has called it quits with its own metaverse ventures, despite it only being a year since former CEO Bob Chapek kickstarted the efforts to explore the space.

The idea was seemingly to use new technologies to explore how Disney could tell unique and interactive stories, but this has since been scrapped, with many on this metaverse team losing their jobs, while lead Mike White will be sticking around at Disney.

This also comes after Disney has pulled the plug on many other recent concepts and ideas, including an Amazon Prime-like subscription that was thought up to be a single user platform combining Disney+ and apps related to its theme parks.

Current CEO Bob Iger has stated that he too sees a future in the metaverse, but as Disney has been under a ton of pressure by investors to cut costs as of late, the metaverse division will remain as one of many casualties for the time being.