February 13, 2024

Disney Partners with Epic Games To Explore Metaverse

Disney x Epic Games

Disney x Epic Games

Disney has entered into a major partnership with Epic Games, the creator of Fortnite, to explore the metaverse. This virtual space is becoming increasingly popular in the technology and entertainment industries.

Disney has acquired a $1.5 billion stake in Epic Games as part of this collaboration. This partnership aims to create a metaverse that incorporates Disney’s vast collection of intellectual properties (IPs), providing a unique combination of interaction and coexistence with Fortnite’s established user base, which currently has around 400 million registered users.

Announced on February 7, Disney’s agreement is a strategic move to capitalize on its iconic IPs, such as Disney, Pixar, Marvel, Star Wars, and Avatar, within a “new persistent universe.” The Universe is expected to provide users with a comprehensive experience that includes playing, watching, shopping, and interacting with content and characters from these beloved franchises. This initiative is called a “multiyear project” and represents Disney’s most significant entry into the gaming world.

Bob Iger, the CEO of Disney, has expressed his excitement about a new venture that presents a significant opportunity for growth and expansion. He believes this initiative is Disney’s most ambitious entry into the gaming domain, anticipating that fans will engage with Disney stories and worlds in new and exciting ways.

This latest move follows Disney’s previous attempts to establish a foothold in the metaverse under the leadership of former CEO Bob Chapek and Mike White, SVP of Next-Generation Storytelling and Consumer Experiences. Despite initially claiming the metaverse to be the “next great storytelling frontier,” Disney’s earlier metaverse strategy faced setbacks, leading to the dissolution of its metaverse division in April 2023, resulting in company-wide layoffs affecting 7,000 employees.

Disney has recently announced two new projects. Firstly, they are partnering with a company called Dapper Labs, which is known for the NBA Top Shot collection. Together, they will launch a new mobile app called Disney Pinnacle. The app will allow users to collect digital badges and other unique digital items, all powered by the Flow blockchain. Secondly, Disney is launching a new venture, although details are currently unknown.

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