Bold & Daily: Disney gives up on metaverse projects and fires the entire team of developers?

Disney has announced that it is abandoning its plans to build a metaverse of its own, and will lay off all employees from its “next-generation narrative and consumer experiences” unit.

Zuckerberg spent $36 billion on the metaverse despite objections from his partners, but now he’s slowing down the project. Meta, the company behind the project, has lost a lot of money and plans to cut 10,000 more jobs. Disney is also discontinuing its Metaverse division and laying off 7,000 employees to improve profitability. Microsoft is abandoning its metaverse plans and focusing on generative AI with the help of GPT in its Bing platform.

The Metaverse is currently going through a transition from the “peak of expectations” to the “abyss of disillusionment” in the technology cycle. While some companies are hiring professionals for the position of Chief Metaverse Officer, other reports suggest skepticism about the real applicability of Metaverse in business. In passing through the “valley,” the Metaverse may lose its name. Still, the fundamental pieces of the Metaverse, such as VR, AR, WEB3, Spatial Computing, and AI, which are already a reality, are ready to transform business and society.

A likely scenario is that the Metaverse will be “suspended” until the technologies that support it move ahead of the curve. It is still unclear whether the Metaverse will overcome this phase and reach the “productivity plateau” or will be just a passing hype.

The concept of the Metaverse has been around for decades, but it is only in recent years that it has gained mainstream attention. The potential of this digital world is immense, and it has the power to revolutionize the way we live, work, and play. However, creating a whole, two-way, continuous immersive experience is a complex task, and it will take time for this vision to become a reality.

The good news is that technologies that support the Metaverse are advancing rapidly. Virtual reality, augmented reality, and other immersive technologies are becoming more sophisticated, and the development of 5G networks will provide the necessary infrastructure for high-speed, low-latency connectivity. As these technologies continue to evolve, the Metaverse will become more accessible and more immersive, allowing users to fully engage with the digital world.

But even with all these advancements, the Metaverse is not a simple undertaking. It requires the integration of various technologies, the creation of new standards, and the development of new business models. It also needs a critical mass of users to create a vibrant and engaging community. These are not things that can happen overnight, and it will take time for the Metaverse to reach its full potential.

the potential of the Metaverse is enormous, and it will undoubtedly become a reality at some point. However, it will take time for this vision to come to fruition. As the technologies that support it continue to evolve, we can expect the Metaverse to become more immersive and engaging. When it finally arrives, it will be a game-changer, delivering value to users in ways that we can’t even imagine today.

Bold Creators Club can help you reach your goals

To have a successful Instagram account, you need to put in the time and effort. You can’t just set up your account and expect people to start clicking on your links. You need an engaged audience that is interested in your brand. This is why running Instagram ads is still a good idea – it will help you build up a following and figure out what engages your target customers best.

Dealing with social media influencers is not always easy. Actually, most of the time, companies and influencers can’t communicate clearly, as there is a lack of a cultural, linguistic, and social bridge that connects both.

When it comes to Latin influencers, this communication barrier is even bigger. Not only because a lot of people in countries like Brazil or Colombia don’t English, but also because these countries are highly multicultural, with cities with completely different styles, slang, and social and cultural movements within the country. 

In the case of Brazil, this aspect is so strong that there are even completely different cultures within the same city, in big metropolises like São Paulo or Rio de Janeiro. 

It is really hard to keep up with the constant changes in pop culture and in the internet world, so contacting an agency whose job is to always be updated about what the influencers are doing, how is the stability in the country, and more important information for your company, is the best strategy.