Disney is getting rid of their metaverse division in a mass company-wide reconstruction. The company is planning to reduce their overall staff by about 7K over the next two months and in the process, they’re cutting their entire metaverse sector, which had about 50 employees. The metaverse strategies department was set on the idea of “next-generation storytelling and consumer-experiences” but the popularity of the metaverse has recently been outshined by the adoption of artificial intelligence tech, much to the dismay of “companies that have bet on new entertainment formats.” YPulse has seen young people flocking to branded metaverse events and platforms, but we also predicted that this year artificial intelligence programs would become a norm for Gen Z to use—and we’ve (very) quickly been proven right. (WSJ, TechCrunch)
