News:
Disney Eliminates Its Metaverse Division as Part of Company’s Layoffs Plan – WSJ
Walt Disney Co. DIS 2.16%increase; green up pointing triangle has eliminated its next-generation storytelling and consumer-experiences unit, the small division that was developing metaverse strategies, according to people familiar with the situation, as part of a broader restructuring that is expected to reduce head count by around 7,000 across the company over the next two months.
Unrelated to the blog, but this required a link here because there is no current potential application to the metaverse. The “digital avatars” floating around in nothingness are useless.
A little more context:
Slow growth in the popularity of the metaverse has frustrated tech companies that have bet on new entertainment formats. Meta Platforms Inc., the parent of Facebook and Instagram, has shifted billions in resources to the metaverse, only to find low demand and widespread confusion among users about how to use the technology.
RadOncNotes 