The word Metaverse has been gaining a lot of buzz in the last few months since Facebook said it rebranded itself as Meta to focus on the virtual reality world.
Powerhouse Disney is also zooming in on the Metaverse and even has a new executive in charge of it.
Disney CEO Bob Chapek appointed executive Mike White to lead the company’s metaverse strategy.
Chapek has not yet provided any specific details on how Disney plans to make money from the metaverse.
Mike White will be Disney’s senior vice president in charge of “next generation storytelling,” Chapek said in a memo to employees that was viewed by CNBC.
White has been previously in charge of Disney’s consumer experiences and platforms. Before joining Disney in 2011, White worked at tech companies such as Yahoo, according to his LinkedIn profile.
So far Facebook has made the biggest bet on the metaverse, changing its corporate name to Meta, and spending more than $10 billion on developing virtual reality hardware and software in 2021.
Chapek said in his memo that White’s task will be “connecting the physical and digital worlds” for Disney entertainment.
“Today, we have an opportunity to connect those universes and create an entirely new paradigm for how audiences experience and engage with our stories,” Chapek also said.
Disclaimer: We have no position in any of the companies mentioned and have not been compensated for this article.