In a shocking move, Bob Iger, who previously led Disney as CEO for 15 years, from 2005 until 2020, will be reappointed for the same position, replacing company’s outgoing CEO Bob Chapek. However, when Disney submitted a metaverse-related patent application in December 2021, he was still working there as an executive and board chairman.
After joining Genies as a director, adviser, and investor, the Disney executive earned recognition in the cryptocurrency community. Genies is a platform for digital avatars that use the Flow blockchain from Dapper Labs.
Iger will reportedly only be back temporarily and lead Disney as CEO for the following two years. Iger is expected to work with the board to outline the company’s strategic direction and to groom a successor during his new tenure as CEO.
Returning to the patent, it was described in the filing as a “virtual-world simulator in a real-world venue.” Visitors to Disney theme parks would be able to create and project unique 3D effects using their smartphones onto nearby actual locations, such as walls and other objects.
Disney has continued to work on initiatives using blockchain, non-fungible tokens (NFTs), and the metaverse throughout the year in his absence.
In order to work on transactions including NFTs, the metaverse, blockchain, and decentralised finance, Disney began employing a principal legal counsel in September (DeFi). They were looking for someone to “provide full product life cycle legal advice and support for global NFT products” and make sure they complied with all applicable domestic and foreign laws and regulations.