A believer in the promise of the Metaverse. Bob Iger has shocked the business community by saying that he would immediately resume his previous role as Disney CEO. Iger will succeed Bob Chapek, who has already tendered his retirement from office.

Iger earned most of his renown during his 15-year tenure as CEO of the international entertainment giant, which is perhaps his most notable achievement. However, the Disney executive rose to fame in the cryptocurrency industry after joining Genies as a director, consultant, and investor. Genies is a blockchain technology development company. The Genies platform is a digital avatar system that is powered by Dapper Labs’ Flow blockchain.

Iger commented that he was “thrilled to join the Genies Board of Directors” to assist Akash Nigam and his colleagues in their goal of “empowering people to build the Web3 Mobile Apps: Avatar Ecosystems.” This was done to further the goal of “allowing anyone to build mobile applications for Web3”.

When Disney filed its metaverse patent application on December 28, Iger was still serving as CEO and chairman of the board.

The patent was for a “virtual world simulator in a real world location” and, according to the filing, would allow Disney theme park-goers to build and project custom 3D effects onto adjacent real locations, such as walls and other objects. using their mobile phones. The patent was for a “virtual world simulator in a real world environment”, so it would be feasible. This goal could be achieved using a technology known as a “virtual world simulator in a real world situation”.

Disney said at the time that there were “no current intentions” to use the “virtual world simulator” patent on any of its products. In addition, the corporation has not yet announced any articles related to the patent.

Iger’s return to Disney will reportedly be brief and he has only committed to remain in his capacity as Disney’s CEO for the next two years. This information was compiled from The Hollywood Reporter.

It was reported that during his new tenure as CEO, Iger would seek to select a successor and work with the board of directors to determine the company’s strategic future.

Despite his absence over the course of the year, Disney has maintained his attempts to develop initiatives involving the metaverse, non-fungible tokens (NFTs), and blockchain technology. Completion of these efforts is anticipated.

Disney began searching for a senior attorney in September to work on transactions involving non-fungible tokens (NFTs), the metaverse, blockchain technology, and decentralized finance. Disney is actively doing research on all these topics (DeFi).

They are seeking a dedicated professional to provide “full product lifecycle legal advice and assistance for global NFT products” and to ensure that the products in question comply with all applicable laws and regulations within the United States and internationally.