Disney partners with Fortnite developer for $1.5 billion metaverse collaboration

Disney partners with Fortnite developer for $1.5 billion metaverse collaboration

Disney and Epic Games Collaborate on Metaverse Project

Disney has partnered with Epic Games, the creator of Fortnite, to venture into the metaverse, a virtual space gaining popularity in the tech and entertainment industries. With Disney acquiring a $1.5 billion stake in Epic Games, this collaboration aims to create a metaverse that combines Disney’s extensive collection of intellectual properties (IPs) with Fortnite’s user base of around 400 million registered users.

The agreement, announced on Feb. 7, is a strategic move by Disney to utilize its iconic IPs such as Disney, Pixar, Marvel, Star Wars, and Avatar within a “new persistent universe.” This universe will offer users a comprehensive experience including gaming, watching, shopping, and interacting with content and characters from these beloved franchises.

The initiative is described as a “multiyear project” and represents Disney’s most significant entry into the gaming world thus far. CEO Bob Iger expressed excitement about the venture and its potential for growth and expansion.

Disney’s Previous Attempts in the Metaverse

This collaboration follows Disney’s previous endeavors to establish a presence in the metaverse under former CEO Bob Chapek and SVP Mike White. However, setbacks led to the dissolution of Disney’s metaverse division in April 2023 and company-wide layoffs affecting 7,000 employees.

Additional Ventures in the Digital Space

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In addition to this partnership with Epic Games, Disney has also announced a collaboration with Dapper Labs to launch an NFT mobile app called Disney Pinnacle. The app will feature unique digital collectibles utilizing blockchain technology.

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