Disney’s $1.5B stake in Epic smells a lot like another metaverse play
Disney cut its metaverse division less than a year ago but is now looking like it’s teaming up with Epic Games to build one after all.
Walt Disney Co. is acquiring a $1.5 billion equity stake in Epic Games to build what it’s calling a “persistent universe” — less than a year after shuttering its metaverse division.
In a Feb. 7 statement, Disney said the multiyear project — subject to regulatory approval — would be a game experience that interoperates with Epic’s flagship game Fortnite. The project will be a “games and entertainment universe,” allowing users to “play, watch, shop and engage with content, characters and stories” from Disney’s assets.
Epic Games founder and CEO Tim Sweeney said the two will “build a persistent, open and interoperable ecosystem,” while Disney CEO Bob Iger said it “marks Disney’s biggest entry ever into the world of games.”
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