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Disney Bows Out of the Metaverse

The Metaverse doesn't seem to have a future at Disney for now.

By Mike Hesp
• 1 min read
Disney Bows Out of the Metaverse

The Metaverse currently doesn't seem to have a future at Disney. The media company has put the development on ice.

Disney laid off a development team of about 50 people from the Metaverse. This reported by the Wall Street Journal.

The retreat from the Metaverse project is part of a broad restructuring. 7,000 jobs are affected.

Disney wasn't active in the Metaverse yet. Virtual theme parks were reportedly planned. The company has not commented on whether the projects were canceled or delayed.

After Meta, formerly Facebook, joined the Metaverse, VR concepts were hyped in the tech industry. The hype has faded. Also, Microsoft recently closed its Metaverse division .

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