Disney have pulled the plug on their metaverse unit, with around 50 workers sacked. This is part of US$5.5 billion cost-cutting that could see around 7000 workers axed through the next two months.

This is far from the rosy future the company boasted back in 2021, saying, “Suffice it to say our efforts to date are merely a prologue to a time when we’ll be able to connect the physical and digital worlds even more closely, allowing for storytelling without boundaries in our own Disney metaverse.”

They had touted the metaverse “The next great storytelling frontier”.

Disney’s stocks recently fell 2.44 per cent.