The Walt Disney Company is finally entering the metaverse space by announcing partnerships with different Web3 startups focused on augmented reality (AR), NFTs, and artificial intelligence (AI) for the Disney Accelerator 2022. The entertainment company plans on building an AR-based metaverse in the near future. 

According to the official announcement, Six companies will work together to build innovative products that can contribute to the development of entertainment and technology. 

Disney has existed for over 100 years as a world-renowned storyteller. For decades, the entertainment company released so many TV shows, movies, series, and other media content while utilizing the latest technology. Disney’s consistent efforts to keep up with the changing world have made it more relevant and successful than any other entertainment company. 

Now, The Walt Disney Company is entering the blockchain world with various existing and upcoming projects.

Just last year, the world-renowned company released the Disney NFT collection featuring a wide range of characters. While announcing NFT collections, Disney also expressed their plans to introduce an AR-based metaverse for its physical Disneyland. Now, the metaverse plan seems to be entering the first phase with the recent partnership announcements.

Disney Accelerator 2022 and Metaverse

Disney Accelerator is an innovation development program supported by Disney to accelerate the growth of startups from around the world and empower them to build ground-breaking products. 

For 2022, the Disney Accelerator program is focused on Web3 innovation and metaverse. Disney partnered up with six companies that have the capability to define the future of immersive experience and modern technology.

“The Disney Accelerator is thrilled to be part of that legacy, and with our newest class of companies, we look forward to furthering our commitment to innovation and continuing to bring magical experiences to Disney audiences and guests for the next 100 years,” said Bonnie Rosen, General Manager of the Disney Accelerator program. 

The Disney Accelerator 2022 is scheduled to begin this week and conclude with a Demo Day in The Walt Disney Studios lot in Burbank, California. The companies joining the Disney Accelerator 2022 are Flickplay, Lockverse, Inworld, Polygon, Obsess, and Red 6. 

Polygon (MATIC), previously known as MATIC Network, is a blockchain network with high scalability that allows builders to create Web3 experiences. According to various sources, Polygon is the only blockchain network chosen by Disney this year.

Other companies also play an important role in this year’s program like Obsess is an e-commerce platform that builds 3D virtual stores, Flickplay is a Web3 social app, Lockverse specializes in Web3 culture-defining stories and experiences, Inworld is an AI-based firm, and Red 6 is an AR company that is widely known for its immersive technology and headset designed for outdoor environments.

The Walt Disney Company will provide:

• Investment capital
• Access to co-working space at Disney’s creative campus in Los Angeles
• Mentor support and guidance from top Disney executives, investors, and other notable personalities from the entertainment and technology communities.

All these partnerships are connected to metaverse technology. As mentioned before, Disney plans on bringing AR and metaverse to Disneyland with the help of different companies. 

This partnership will enable the Walt Disney Company to enter the immersive experience and make way for the entertainment industry in the Web3 world.

Will Disney succeed with immersive technology?

Disney has been making efforts to utilize modern technology in various ways. This time, Disney wants to integrate virtual and physical into oneness by creating an AR-based, AI immersive, and metaverse-centric experience for its audience and Disneyland visitors. 

With regards to the question of whether Disney will succeed? Nothing can be said because the company itself might be on the lookout to see what new and innovative technology the participating companies develop which could benefit Disney in any way. 

After the success of Disney NFTs, the Disney metaverse might be the next big step for the company to conquer in the coming years. Disney’s idea behind metaverse is to be a “headsetless Augmented Reality” experience, and many anticipate that the participating companies might crack the code to bring this idea to a realistic form. 

Will Disney succeed? Only the future will tell.