Disney has made a number of decisions that will question the future value of Web3. The company is about to part ways with its 7,000 employees to keep costs under control and develop a modern business. In the news based on The Wall Street Journal, among the dismissed metaverse There is also a group of 50 people working with focus.
Disneystarted developing its Metaverse strategy in mid-2022. The company announced that Polygon was chosen as Disney’s blockchain of choice, and was noted for speeding up resource allocation for the effort, with a job posting for specialist in-house consultant for NFTs and DeFi in September of that year.
According to the Wall Street Journal, Disney’s metaverse plans remained unclear even after a year.
The position Disney sought to hire was advertised as an experienced corporate lawyer who will “work on transactions involving emerging technologies, including NFTs, blockchain, metaverse and decentralized finance.”
In October 2021, a report was published and made headlines, stating that along with Citi, Electronic Arts and WWE, Disney is expected to be one of the biggest beneficiaries of NFTs. As a matter of fact, the tokens seem to have not reacted much after the latest news.
You can follow the current price action here.