The Walt Disney Co has appointed its executive who held the title of SVP of consumer experiences and platforms as its new head to lead metaverse-related projects, according to an email sent by Disney CEO Bob Chapek and seen by Reuters.

Chapek wrote that the company with a market cap of $253 billion has an opportunity to connect universes into an "entirely new paradigm" for how audiences experience. He continued:

This is the so-called metaverse, which I believe is the next great storytelling frontier and the perfect place to pursue our strategic pillars of Storytelling Excellence, Innovation, and Audience Focus.

The Walt Disney CEO added that Chapek will be responsible for establishing the company's overall vision and strategy for the consumer journey. Although he didn't reveal the timetable for metaverse-related products, he noted the entertainment giant will explore partnerships, and facilitate knowledge sharing.

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The announcement comes just a week after Disney published job posts seeking NFT experts for its yet-to-be-announced projects. The California-based company was looking for a culture trend marketing manager knowledgeable in new areas, including gaming, non-fungible tokens, crypto, and the metaverse.