Disney Brings Back Bob Iger As CEO: Here's The Crypto Connection

Since leaving The Walt Disney Company, Bob Iger has served as a board member and advisor for Genies, a platform for creating digital avatars. Bob Iger, a supporter of the metaverse, has unexpectedly announced his return to his previous position as CEO of Disney, taking over from now- Bob Chapek, a former CEO.

Iger is best known for his 15 years as the CEO of the global entertainment company, but the Disney executive also gained notoriety in the cryptocurrency world after joining the board of directors, serving as an advisor, and investing in Genies, a platform for virtual avatars that uses the Flow blockchain from Dapper Labs.

“Thrilled to be joining the Genies Board of Directors to help Akash Nigam and company empower humans to create the 'mobile apps of Web3': avatar ecosystems,” Iger said at the time.

When Disney filed a patent application for a Metaverse-related invention on December 28, Iger was still working there as an executive and board chairman.

According to the patent filing, the "virtual-world simulator in a real-world venue" would enable guests of Disney theme parks to create and project customized 3D effects onto nearby physical places, such as walls and other objects, using their mobile phones.

Iger has only agreed to serve as Disney's CEO for the upcoming two years, thus the Hollywood Reporter claims that his return will only be temporary.

Iger will allegedly collaborate with the Board to establish the company's strategic direction during his new tenure as CEO and try to groom a successor.

Disney has continued to work on projects involving the metaverse, NFTs, and blockchain all year long despite his absence. .

To work on transactions including NFTs, the Metaverse, blockchain, and decentralized finance, Disney began looking for a principal counsel position in September (DeFi)

They are specifically looking for someone to “full product life cycle legal advice and support for global NFT products” and make sure they abide by all applicable domestic and foreign laws and regulations.

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