Peter Jackson sells special effects firm in US$1.6bil ‘metaverse’ deal

Under the deal, Unity takes over Wellington-based Weta Digital’s technology and engineering assets while Jackson (right) retains majority ownership of a standalone film effects company called WetaFX. — AFP

WELLINGTON: New Zealand film director Peter Jackson on Nov 10 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 said the US$1.6bil (RM6.64bil) acquisition would “shape the future of the metaverse”, an immersive 3D version of the Internet tipped to transform workplaces and online interactions.