📌 Disney today announced a new partnership with Epic Games, creators of Fortnite, to create a digital universe uniting all franchises.
– Disney and Epic Games.
Can Disney revitalize the meta universe by creating a $1.5 billion gaming universe?
Disney is partnering with Epic Games and investing $1.5 billion dollars to create a digital universe.
This online gaming universe will feature Disney, Marvel, Star Wars, Pixar and Avatar characters on the Unreal Engine.
Despite CEO Bob Iger’s troubles, Disney’s stock price soared after announcing a partnership with Epic Games.
Could Disney revive the metaverse’s promotion of its $1.5 billion game universe?
Disney could revive its meta-universe ambitions through a “game universe” partnership with Epic Games. Among the meta-universes of Apple and other tech companies, the mouse house will invest $1.5 billion for a stake in the Fortnite creators.
Disney today announced a new partnership with Fortnite creator Epic Games.
The online world will feature Disney, Marvel, Star Wars, Pixar and Avatar characters in a persistent universe created on the Unreal Engine. UnrealEngine is the technology that Disney has used in Kingdom Hearts 3 and Star Wars Jedi: Survivor and other games.
Disney’s deal with Fortnite follows several previous integrations, including Marvel Nexus War with Galactus, and Epic Games CEO Time Sweeney said the partnership demonstrates the company’s mastery of cross-platform integration.
Previous partnerships have attracted more than 15 million players, and the planned merger increases the potential to draw people into the virtual world. The deal is subject to regulatory approval. According to Disney CEO Bob Iger, the partnership will be Disney’s “largest entry into the gaming world.”
In November 2022, Disney reinstated Bob Iger as CEO. In April of that year, Iger invested in Genies, a company developing three-dimensional avatars that wear digital clothing and travel through the meta-universe. He attributes his investment to his interest in what happens at the intersection of art and technology.
Upon becoming CEO, Iger faced major challenges – the effects of the COVID-19 pandemic, the rise of streaming television, and company-wide cost-cutting were just a few he had to deal with. However, when Iger announced a new agreement with Epic Games and Taylor Swift, Disney’s stock price soared.
For a while, it may have seemed like the meta-universe was dead amid growing interest in artificial intelligence. However, according to Gartner analyst Marty Resnick, it’s easy to get frustrated when a new technology temporarily replaces a previous one.
People tend to focus on one thing at a time. Generative AI has been in the spotlight because it’s been a highlight and a major disruption. In the short term, the meta universe turned out to be a bit of a disappointment,” says Resnick.
What’s more, concrete moves by Meta, Disney and Apple regarding Vision Pro headsets indicate a resurgence of interest. Meta relaunched the Meta universe with AI revenue after its original plans failed to meet expectations. Disney also dabbled in AI before striking a deal with Epic Games, and may launch a game based on the meta universe.
One area of the meta-universe that companies should be careful about, however, is regulatory compliance. The Bank for International Settlements recommends that as the meta universe and its applications evolve, regulators should consider interoperability, competitiveness, consumer protection and data privacy.
BeInCrypto reached out to Disney and Fortnite for comment but had not received a response at the time of publication.