Disney invests $1.5bn in Epic Games for a 'persistent universe'
What's the story
Disney is making a massive splash in the gaming world by investing $1.5 billion in Fortnite's creator, Epic Games.
This partnership aims to create an "expansive and open games and entertainment universe" featuring beloved characters from Disney, Avatar, Pixar, Star Wars, Marvel, and more.
Disney CEO Bob Iger calls it their most significant entry into gaming yet, with huge potential for growth and expansion.
Workings
New universe to interoperate with Fortnite
This exciting project will not only offer a top-notch gaming experience but will also connect with Fortnite.
Players, gamers, and fans can create their own stories as well as experiences, express their love for Disney in unique ways, and share content with others.
This collaboration is similar to Epic's recent partnership with Lego, which led to the creation of Lego Fortnite, after a $2 billion investment from Sony and KIRKBI.
Tool
The 'universe' will be powered by Unreal Engine
Describing the collaboration, Disney put out a statement.
It said, "The new persistent universe will offer a multitude of opportunities for consumers to play, watch, shop, and engage with content, characters, and stories from Disney, Pixar, Marvel, Star Wars, Avatar, and more."
To note, all of this will be powered by Unreal Engine (a real-time 3D graphics creation tool for photoreal visuals and immersive experiences).
History
Previous collaborations and upcoming Mandalorian update
Disney and Fortnite have teamed up before, bringing Marvel, Star Wars, and other Disney characters into the game.
In 2020, there was even a whole Marvel-themed season in the popular battle royale game.
Epic's Tim Sweeney said they're working on "something entirely new to build a persistent, open, and interoperable ecosystem" that will unite Disney and Fortnite fans.
This partnership has already resulted in a Mandalorian-themed update for Rocket League, complete with a Grogu car topper.
Layoff
Disney shuttered its metaverse division in 2023
Back in March last year, Disney laid off its 50-member strong metaverse division.
At that time, Disney announced that it was planning to reduce its headcount by around 7,000 workers overall.
Epic also recently axed 16% of its workforce or around 830 employees.
Now, both companies are showing renewed interest in the metaverse via their collaborative project. So, are more hirings likely?