Disney Invests, one of the world’s largest entertainment firms, has opted to buy a $1.5 billion investment in Epic Games, the creators of the popular persistent metaverse platform Fortnite. The firms will work together to create a metaverse incorporating Disney-owned intellectual property (IP) that will benefit from interaction and coexistence with Fortnite.
Controversial opinion but I don't think Hazbin Hotel should be considered an indie show now. Helluva still is, but if your show has marketing, merchandise, and funding from one of the world's largest corporations it's not indie anymore. Remember Disney started in a garage. https://t.co/OT3AclIk0h
— iDuckFilms (@iDuckFilms) January 20, 2024
The Disney Invests Metaverse is Coming
Disney is considering bringing its franchises to the metaverse. On February 7, the firm announced a partnership with Epic Games, the creators of the metaverse experience powerhouse game Fortnite, to create a platform featuring the company’s iconic intellectual properties (IP).
To that end, Disney will buy a stake in Epic for $1.5 billion to help the business complete what it calls a “multiyear project.” While the term “metaverse” was not mentioned in the announcement, it was described as a “new persistent universe” that will allow users to “play, watch, shop, and engage with content, characters, and stories from Disney, Pixar, Marvel, Star Wars, Avatar,” and other franchises.
The connection between three things makes me feel so happy to stand with all of you as a #vevefam , way ahead of many traditional investors:
1. @andreijikh bought the VEVE logo right after Disney announced its foray into the metaverse.
— Dance BuddhaPanda (@DBuddhapanda) February 12, 2024
The platform would profit from interactions and coexistence with Fortnite, giving it an initial potential audience of over 400 million registered people. About this collaboration, Bob Iger, CEO of Disney, stated:
This is Disney’s largest introduction into the gaming industry to date, with tremendous prospects for growth and expansion ahead. We can’t wait for fans to experience their favourite Disney stories and settings in entirely new ways.
Nonetheless, these aspirations came to a stop in April 2023, when 7,000 people were laid off, resulting in the company’s whole metaverse division being dissolved. However, the collaboration allows the corporation to try again to develop a foothold in the metaverse, this time with the help of an established gaming company like Epic.
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