Blog: The Metaverse Suffers a Setback. That’s OK, Banking Regulation Needs to Catch Up Anyway. – Barron’s

The metaverse, envisioned as the future of technology just a few years ago in the depth of Covid-19 lockdowns, suffered another blow this week.

Disney is shutting down its efforts to tell stories in the metaverse, eliminating the unit as part of the thousands of job cuts at the company, The Wall Street Journal reports. That comes after Mark Zuckerberg, after changing the name of his company from Facebook to Meta, admitted late last year that maybe he had overcommitted, and started slashing investment.

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