Walt Disney has scrapped its plans for a metaverse. The metaverse is a virtual world where users can interact with each other and digital assets in a fully immersive environment.

The decision by Walt Disney to abandon its metaverse plans is a significant setback for the industry, as it highlights the challenges and limitations of creating a fully immersive virtual world. The high costs and technical challenges involved in creating a metaverse, as well as concerns about user privacy and data security, have made it difficult for companies to successfully launch and operate such platforms.

The decision by Walt Disney is part of a broader trend towards increased caution and skepticism about the potential of the metaverse. As more companies and investors seek to explore the potential of the metaverse, there is likely to be increased focus on the challenges and limitations of such platforms, as well as the need for effective regulation and oversight.

(by Pradipta Mukherjee)