In February 2022, during the peak of the metaverse buzz, Disney made a strategic move by transitioning Mike White from his position as Senior Vice President of Next-Generation Storytelling and Consumer Experiences to lead its metaverse strategy.
This shift for White happened at a time when interest in the metaverse was surging, with NFTs becoming highly sought after and Facebook announcing its rebranding to Meta. Concurrently, companies across various sectors, including media, retail, and fashion, began appointing heads to oversee their digital ventures, sometimes even introducing the role of Chief Metaverse Officer.
Bob Chapek, who was CEO at the time of White’s appointment, highlighted Disney’s eager embrace of the digital frontier. “We are at the edge of establishing a completely new way for audiences to immerse in and interact with our stories. In line with our fundamental strategies—exceptional storytelling, innovation, and audience focus—I view the ‘metaverse’ as the next significant evolution in narrative engagement.”
However, the later downturn in the cryptocurrency market and ongoing economic uncertainties prompted many companies to retract, often starting with their metaverse initiatives.
Disney, despite showing resilience, disbanded its metaverse team by March. Although this decision affected all 50 members of the department, it was reported that White would remain with Disney in an unspecified role.
Disney has kept quiet about its future intentions regarding Web3 and the metaverse and has not commented on White’s new position.
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