Interest within the metaverse is rapidly cooling off. After Microsoft (MS) disbanded the buyer Metaverse development department in January, Disney recently fired all employees within the related department.

The Wall Street Journal (WSJ) reported on the twenty ninth (local time) that Disney had sent out all 50 departments in command of the metaverse while carrying out large-scale layoffs of seven,000 people.

The unit was led by Mark White, who was promoted to vp in February last yr. It has played a task in implementing popular franchises akin to Disney, Pixar, Marvel, and Star Wars right into a metaverse.

Disney hired White last yr to “create an entire recent paradigm for the way audiences experience and have interaction with stories.” “The Metaverse is the next-generation storytelling frontier and the right place to pursue superior storytelling, innovation and audience-focused strategies,” he said.

Nonetheless, in only one yr, the relevant departments were organized.

Disney CEO Bob Iger explained, “This layoff could also be a short-term motion for a metaverse division that shouldn’t be immediately profitable and is expensive.”

It’s analyzed that the variety of users shouldn’t be increasing on account of expensive headsets and slow technological development, and it’s difficult to generate meaningful profits with the metaverse because the economic situation worsens.

Based on the WSJ, the land price of the metabus ‘Decentraland’, which was traded for hundreds of thousands of dollars, also plummeted by 90% in a single yr.

Reporter Lim Dae-jun ydj@aitimes.com