50 people work on Walt Disney’s Metaverse project. Victim of the current economic crisis, the production company faces many difficulties forcing it to lay off 7,000 employees. That’s not all ! To keep its cash afloat, it is also forced to cut spending by $5.5 billion. The Metaverse project is among the first victims of this decision.
Walt Disney’s Metaverse Project in a nutshell
Metaverse can be defined as a virtual world where users can take on avatar form. Some metaverses are accessible via virtual reality headsets.
Walt Disney’s Metaverse project essentially consists of the next-generation storytelling and customer experience unit. This small division employs approximately 50 people. According to an internal memo that Walt Disney sent to its staff members, the reorganization of Walt Disney would have resulted in the abandonment of this Metaverse project.
According to wall street journaleveryone assigned to Walt Disney’s Metaverse project is affected by the layoff, except for division chief Mike White.
Walt Disney isn’t the only one in trouble
Mark Zuckerberg has shown his optimism regarding the future of the metaverse virtual world. Unfortunately, the use of this technology doesn’t seem very profitable for everyone. The proof: several technology companies today face great challenges with their strategies and their metaverse project.
The equipment needed to integrate this virtual world is expensive. And yet, participation remains extremely limited. Regarding the price of equipment, it should be noted that Meta has already made the decision to reduce the price of its Oculus mixed reality headset starting in March.
The Metaverse project therefore requires a sizeable budget. It is therefore normal that Walt Disney choose to abandon it to better execute their austerity plan.
The abandonment of Walt Disney’s Metaverse project is a disappointment for some fans. Too bad Mickey and his friends won’t be able to go to the metaverse!
Receive a digest of news in the world of cryptocurrencies by subscribing to our new service of daily and weekly so you don’t miss any of the essential Tremplin.io!
