Published on: 06/05/2022

Disney metaverse plan for ‘next-generation storytelling’, says CEO

The metaverse is an ever-expanding idea of a digital platform that simply unites gaming, social interaction, and earning opportunities in addition to its other complex vivid features. All of these aspects trigger many companies to start investing, one of which is Disney and its creative arm Disney Imagineers.

Following many attempts from big names companies venturing into the yet mature industry of the metaverse, Disney sees the network of 3D virtual worlds as a “third dimension of the canvas” ready to be used by creatives alike for “next-generation storytelling.”

The American multinational entertainment and media conglomerate company’s point of view is not a laughingstock either despite the metaverse is still at the relatively early stages of development. Take Disney as an opportunist to expand its storytelling to the metaverse after Walt Disney Company CEO Bob Chapek announced this year in February the company prepared itself for going 3D.

Disney’s metaverse plans

Disney’s Imagineers are surely having a field trip. The company is likely to have seen and observed the success stories of the hit NFT collection Bored Ape Yacht Club, a brainchild of Yuga Labs that garnered millions with their much-hyped collection.

Most recently, Yuga Labs launched its first-ever NFT metaverse gaming platform called Otherside, which raised $320 million and propelled OpenSea’s daily trade sales of over $476 million.

Chapek earlier this year via CNBC revealed his interests in the metaverse, calling it a “third dimension of the canvas” for Disney creatives in addition to Disney parks executives had published an essay talking about a certain future where wearables tech and smartphones would be used to “transcend the physical and digital barrier.”

“It’s going to take all the great things that we as a media company have with Disney+ and use that as a platform for the metaverse,” Chapek said.

“But at the same time, we have something that no one else has, and that’s the physical world, a world of our parks. And so, if the metaverse is the blending of the physical and the digital in one environment, who can do it better than Disney?”

However, according to a report by Los Angeles Times in April, one analyst concluded the entertainment giant is lacking in software development despite having a huge interest to take Disneyland digital, at least what can be made from Chapek’s words.

As the company expands its businesses to other branches, the CEO confirmed technology will be Disney’s “top of mind” in their agendas.

“We realize that it’s going to be less of a passive-type experience,” the 61-year-old added. “And this is a very top-of-mind thing for us because we are continuing over time to augment our skills and the types of people that we attract into the Walt Disney Company to reflect the aggressive and ambitious technology agenda that we have.”

At the moment there is not much that can be concluded other than a plain and raw interest to venture deep into the metaverse for Disney. The company also refrained to provide any comments about the Disney parks exec’s essay nor have available specifics regarding its strategy for the metaverse.