Disney Reinstalls Crypto-Friendly CEO Following a Meta Filing

Since leaving the Walt Disney Company, Bob Iger has served as an advisor and board member for the digital avatar platform Genies.

Disney Reinstalls Crypto-Friendly CEO Following a Meta Filing

Bob Iger, who backed the Metaverse, has announced his return to his former role as CEO of Disney. He will take over from Bob Chapek, who has stepped down from the position.

Iger served as Disney's CEO for 15 years. However, he gained popularity in the crypto community after becoming a director, adviser, and investor in Genies, a digital avatar platform utilizing Dapper Labs' Flow blockchain technology.

“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 metaverse-related patent on Dec. 28, Iger was still an executive and board chairman at the company.

It was a patent for a "virtual-world simulator in a real-world venue" that, according to the filing, would enable visitors to Disney theme parks to use mobile phones to generate and project personalized 3D effects on nearby physical spaces, such as walls and other objects.

According to Disney, there are currently no plans to use the "virtual-world simulator" patent, and no products have been announced related to the patent.

Iger's return is reportedly temporary, however, with Iger agreeing to serve as Disney's CEO for only two years, according to the Hollywood Reporter.

In his new role as CEO, Iger will reportedly work with the board to establish the company's strategic direction and identify a successor.

During his absence, Disney has continued to work on projects involving the metaverse, nonfungible tokens (NFTs), and blockchain.

Disney has hired a principal counsel to work on transactions involving NFTs, the metaverse, blockchain, and decentralized finance (DeFi).

Specifically seeking a lawyer who will provide "full product life cycle legal advice and support for global NFT products" and ensure that they comply with all current laws and regulations both domestically and internationally.

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