New Zealand film director Peter Jackson yesterday announced the sale of his Oscar-winning Weta Digital special effects business to a US software firm intent on using it to develop the virtual-reality “metaverse.”
San Francisco-based Unity Software Inc said the US$1.6 billion acquisition would “shape the future of the metaverse,” an immersive 3D version of the Internet tipped to transform workplaces and online interactions.
Unity said Weta’s technology — used in blockbusters such as The Lord of the Rings trilogy and Avatar — would allow its subscribers to create their own ultra-realistic corner of a virtual world.
Photo: Reuters
“We are thrilled to democratize these industry-leading tools and bring the genius of Sir Peter Jackson and Weta’s amazing engineering talent to life for artists everywhere,” Unity president John Riccitiello said in a statement.
Under the deal, Unity takes over Wellington-based Weta Digital’s technology and engineering assets while Jackson retains majority ownership of a standalone film effects company called WetaFX.
Jackson said the opportunity to use Weta’s ground-breaking programs was a “game-changer” for those working in creative industries.
“Together, Unity and Weta Digital can create a pathway for any artist, from any industry, to be able to leverage these incredibly creative and powerful tools,” he said.
The metaverse is expected to develop into an online platform that makes virtual experiences, such as chatting with a friend or attending a concert, feel face-to-face.
It grabbed headlines last month when Facebook Inc changed its parent company name to “Meta Platforms Inc” to reflect founder Mark Zuckerberg’s commitment to the concept.
Zuckerberg’s firm has announced plans to hire 10,000 people in the EU to build the metaverse, but other tech players are also scrambling to stake a claim in the online world.
The technology might, for example, allow someone to don virtual-reality glasses that make it feel as if they are face-to-face with a friend — when in fact they are thousands of miles apart and connected via the Internet.
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