The third Spider-Man film in the Marvel Cinematic Universe will bring back Jamie Foxx as Electro after teh actor played the character The Amazing Spider-Man 2. While it's not uncommon for villains to return in some way, this is the first time an antagonist from one continuity -- The Amazing Spider-Man films -- is returning to a new franchise. Some fans suspect this Electro will be from Andrew Garfield's films, potentially making this the MCU's attempt at the Spider-Verse. However, the reality is almost certainly far more mundane.
Sony's Electro is Dead
While the same actor, Foxx, is playing Electro again, this does not mean it's the same Electro from The Amazing Spider-Man 2. Much like how J. Jonah Jameson has a different history and appearance, despite being played by the same actor, this new iteration of Electro could be a new version of the character. Foxx has even said this version of Electro will not be blue.
Furthermore, Electro died at the end of The Amazing Spider-Man 2 thanks to the combined efforts of Peter Parker and Gwen Stacy. To bring this Electro back means his death was either a fake out or he's somehow found a way to resurrect himself. Both of these outcomes are unrealistic. It would also be a lot to unpack on top of explaining how he crossed over from the The Amazing Spider-Man universe into the MCU. It makes more sense practically and narratively speaking that Foxx's 2014 Electro is dead, and his new Electro is a different take on the character.
A New, Improved MCU Electro
One of the main objectives of the MCU Spider-Man films is to offer underutilized villains a chance to enter the spotlight. In the last few films, audiences have seen Spider-Man face off against Shocker, Tinkerer, Vulture and Mysterio. Bringing in Electro takes this idea further by giving a poorly received villain a second chance to shine on screen. Where other cinematic depictions of Spider-Man's villains have been mostly well received, Electro failed to live up to expectations for many fans.
Marvel Studios even tried to help Sony make Electro right the first time. Kevin Feige offered several creative notes to Sony during the production of The Amazing Spider-Man 2. Those notes contained suggestions on how to improve Electro. While Feige expressed interest in the character, he remarked that the character seemed unrelatable to audiences. Several of these notes went ignored, resulting in a character most fans did not receive well.
This is Feige's second chance with the character, and he could show that Electro is a compelling antagonist for the wall-crawler. The MCU could pull more from the source material, presenting a more comic accurate version of the villain. He could help form the Sinister Six, something that's only been teased in past films. With there being plenty of directions to go with Electro, it's more likely he'll get a new spin than be the same, poorly received character from The Amazing Spider-Man 2.