Disney’s $1.5 Billion Epic Stake: A Metaverse Move?

Walt Disney Co. announces a $1.5 billion investment in Epic Games for the development of a “persistent universe” in less than a year after closing its metaverse division.

This is going to be… Epic! ✨ The Walt Disney Company and Epic Games are collaborating on an all-new games and entertainment universe featuring characters and stories from Disney, Pixar, Marvel, Star Wars, Avatar, and more. Learn more:

— Disney (@Disney) February 7, 2024

Disney described the project as a multiyear endeavor, pending regulatory approval, which will integrate with Epic’s popular game Fortnite. This initiative aims to create a gaming and entertainment platform where users can interact with Disney’s intellectual properties, play games, consume content, and engage with characters and narratives.

Tim Sweeney, the founder and CEO of Epic Games, emphasized their joint endeavor with Disney to “build a persistent, open and interoperable ecosystem,” while Disney CEO Bob Iger states it “marks Disney’s biggest entry ever into the world of games.”

The partnership news coincides with Disney’s release of its financial results for the first quarter of 2024, following a string of underperforming movies and streaming content in the previous year.

Disney provided more details, explaining that users will be able to create their own stories and experiences within this vast universe. Although they didn’t give specific information about when this project, resembling a metaverse, will be released, they did mention that it will be powered by the Unreal Engine from Epic Games.

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2024-02-08 09:40