Peter Cuneo, former CEO of Marvel Entertainment, has joined virtual reality and augmented reality startup Uncorporeal Systems as chairman.
The move shows that VR is already well on its way. The field is expected to become a $25 billion industry by 2021, according to tech advisor Digi-Capital.
San Francisco-based Uncorporeal Systems will tap Cuneo’s vast experience as it expands its business of making technology tools for AR and VR.
Cuneo has played a lot of business roles over the past 30 years, including president of a Black and Decker business group. He is currently chairman of Valiant Entertainment.
“Peter is a game changer,” said Uncorporeal CEO Kul Wadhwa, in a statement. “With an esteemed career leading major companies working in everything from entertainment to consumer goods, Peter brings us an unparalleled understanding of what customers need to embrace VR and AR. When you add his shrewd operational acumen and extensive relationships at the highest levels of industry, Peter is an ideal partner to bring Uncorporeal’s technology to scale.”
Cuneo serves on the board of Iconix Brand Group, which licenses major consumer brands, including Peanuts, Danskin, and Mossimo. He held several senior leadership roles at Marvel Entertainment, including president and CEO, before Disney purchased Marvel for $4.3 billion.
“When I saw the technology Uncorporeal’s team developed, I realized the enormous market potential and had to get involved,” said Cuneo, in a statement. “They’re creating incredible experiences that help brands deepen relationships with audiences anywhere, from moviegoers and gamers to online shoppers and travelers. As we enter a new era of visual engagement, Uncorporeal provides an incredible value proposition that businesses can’t afford to ignore.”