Disney CEO Bob Chapek on Tuesday appointed an executive to lead the company’s metaverse strategy. As for now, Chapek has not provided any specific details on how Disney plans to generate revenue from the metaverse.
Mike White will be Disney’s senior vice president
Mike White will be Disney’s senior vice president of “next generation storytelling”. According to a document seen by CNBC from Chapek. Prior to this, White oversaw Disney’s consumer experiences and platforms.
The metaverse refers to the concept of new entertainment supplied by virtual reality device
The term “metaverse” refers to a new form of entertainment provided by virtual reality gadgets that promises to usher in a new era of internet commerce. To date, Facebook has placed the biggest commitment on the metaverse. Renaming itself Meta and investing more than $10 billion in virtual reality hardware and software development by 2021.
Disney hopes to profit from the metaverse. However White’s job will be to “link the physical and digital worlds” for Disney entertainment.
“Today, we have the chance to connect those universes and establish an altogether new paradigm for how audiences perceive and participate with our stories.”
Despite the investment and hype surrounding the metaverse, the technology itself is still far off
Despite the enthusiasm and investment around the metaverse, the technology is still a long way off. In addition Meta executives have stated that fully realizing their vision of immersive worlds accessed through a pair of electronic spectacles could take up to 15 years.
In the meantime, prominent tech firms are experimenting with new types of augmented and virtual reality headgear. Moreover Microsoft produces an augmented reality device called HoloLens, while Meta said it aims to deliver an upgraded version of its VR headset later this year. Apple’s headset is expected to be unveiled this year.