The company behind Fortnite, Epic Games and Disney has taken a big step into the metaverse, a virtual world gaining popularity in the tech and entertainment industries.
Disney will buy a $1.5 billion share in Epic Games as part of the partnership. Through this collaboration, Disney’s vast collection of intellectual properties (IPs) will be included in a metaverse that will provide a special kind of engagement and cohabitation with Fortnite’s well-established user base, which currently numbers about 400 million registered users.
The agreement, announced on Feb. 7th signifies a strategic move by Disney to leverage its iconic IPs, including Disney, Pixar, Marvel, Star Wars, and Avatar within a “new persistent universe”.
The Universe aims to give customers a whole experience that includes playing, viewing, shopping, and interacting with characters and content from these cherished franchises.
The endeavor is called a “multiyear project” and is Disney’s largest-scale gaming venture to date. Disney CEO Bob Iger voiced excitement about the project and emphasized the potential for development and expansion.
He emphasized the importance of this endeavor as Disney’s most comprehensive foray into the gaming industry, excitedly awaiting the novel ways in which fans would interact with Disney characters and settings.
This current action follows Disney’s earlier endeavors, led by Mike White, SVP of next-generation storytelling and consumer experiences, and former CEO Bob Chapek, to gain a presence in the metaverse.
Disney’s previous metaverse strategy had difficulties despite early assertions that the metaverse was the “next great storytelling frontier.” As a result, the division was dissolved in April 2023 along with 7,000 people who were laid off as a whole.
Disney has also announced that it will work with Dapper Labs, the company behind the NBA Top Shot collection, to release Disney Pinnacle, a new NFT mobile app. The app runs on the Flow blockchain and offers exclusive digital treasures through badges.
