Disney Closes Metaverse Unit in Initial Wave of Job Cuts

Disney has announced the closure of its Next Generation Storytelling group, which focused on creating a metaverse for Disney. This is part of the first wave of layoffs that have been taking place at Disney in response to the ongoing pandemic and its subsequent financial impacts.

The Next Generation Storytelling unit was created by Disney in 2019 with an ambitious goal: to create a virtual universe where stories could come alive across multiple platforms. It was meant to be an immersive experience that would allow fans around the world to interact with characters from their favorite films and TV shows within this digital space. Unfortunately, due to current economic conditions, it appears as though these plans will remain unfulfilled for now.

The decision comes as no surprise given how much money had already been invested into developing this project over such a short period without any tangible results being seen yet; however, it’s still disappointing news for those who were looking forward to seeing what could have become out of this initiative if given more time and resources. The team behind it consisted mostly of former Lucasfilm employees who had previously worked on projects like Star Wars VR experiences or ILMxLAB’s Vader Immortal series – so there was certainly potential here that won’t be realized now due to these layoffs occurring at such an early stage in development.

It remains unclear whether or not we’ll ever see something similar from Disney again down the line; however, one thing is certain – they are committed to adapting their business model during difficult times like these while also ensuring they continue providing quality entertainment experiences for fans around the world despite having fewer resources.