Disney Sets The Stage To Go In On Metaverse

$Disney (DIS.US)$ is planning a foray into metaverse as the buzz around virtual environments intensifies. Disney CEO Bob Chapek touched on some of the company’s “firsts” at the fourth-quarter earnings call. Chapek referred to “Steamboat Willie,” the first cartoon to feature synchronized sound and the company being the first to distribute downloaded content on $Apple (AAPL.US)$ iPod.On metaverse, the CEO said “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.”

Why It Matters: Late last month, social media giant $Meta Platforms (FB.US)$ said it was rebranding as “Meta” in a nod to the metaverse. Facebook’s move intensified the buzz surrounding the latest digital frontier with companies like $Nike (NKE.US)$ and $Microsoft (MSFT.US)$  jumping on the bandwagon.