Bob Iger returns to Disney as CEO: Here's how crypto fit in

Key points: 

• Bob Iger is returning as the CEO of Disney. 
• He rose to prominence in the crypto community after becoming a director, advisor, and investor in Genies, a digital avatar platform running on Dapper Labs' Flow blockchain.
• In September, Disney began hiring a lead consultant for NFT, Metaverse, blockchain, and DeFi transactions.
• They’re looking for someone who can provide “complete legal advice and full product lifecycle support” for global NFT products.

Metaverse contributor Bob Iger has announced his surprise return as Disney CEO, succeeding former CEO Bob Chapek.

While Iger is best known for his 15-year tenure as CEO of the global entertainment conglomerate, the Disney executive rose to prominence in the crypto community after becoming a director, advisor, and investor in Genies, a digital avatar platform running on Dapper Labs' Flow blockchain.

"I'm excited to join the Genies board and help Akash Nigam and his company empowers people to create 'mobile apps of Web3': avatar ecosystems," Iger said at the time.

When the company filed its Metaverse-related patents on Dec. 28, Iger was still Disney's chief executive and CEO.

The patent covers a "virtual world simulator of a real location," and according to the application, visitors to Disney theme parks could use their phones to create personalized 3D effects and project them into nearby physical spaces, such as walls and other objects.

However, Disney said at the time that it has "no current plans" to use the virtual world simulator patent, and the company has yet to announce any products related to the patent.
However, Iger's return will reportedly be temporary, as Iger has only agreed to serve as Disney CEO for the next two years, according to The Hollywood Reporter.

According to reports, during his new term as CEO, Iger will work with the board of directors to determine the company's strategic direction and find a successor.

During his absence, Disney continued to work on projects involving the Metaverse, non-fungible tokens (NFTs), and blockchain throughout the year.

In September, Disney began hiring a lead consultant for NFT, Metaverse, blockchain, and decentralized finance (DeFi) transactions.

Specifically, they’re looking for someone who can provide “complete legal advice and full product lifecycle support” for global NFT products and ensure they comply with all applicable laws and regulations both domestically and internationally.