• Wed. May 29th, 2024

Is Disney Going to Make its Next Crypto Move into NFTs?

Disney

 

The number of companies entering the Web3 and Metaverse market is growing. For example, Tess Rinearson, the head of Twitter’s cryptocurrency division, announced the vacancy for an NFT specialist in the new blockchain and digital assets department.


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And the number of companies looking for employees with cryptocurrency or blockchain experience is increasing dramatically. According to the social network LinkedIn, in 2021, the indicators increased by 395%.

The Walt Disney Company didn’t stand aside either: as follows from buidlbee, it posted a vacancy for a lawyer to work in an “accelerated and aggressive schedule” with new technologies, including NFT and DeFi.

Does this mean Disney is about to make its next move into NFT?

Disney

Disney Corporation is looking for a General Counsel to work on transactions related to non-fungible tokens (NFTs), metaverses, blockchain, and virtual finance.


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The specialist’s duties include legal advice on NFT products, conducting expert reviews, and negotiating and drafting agreements for projects in the field of “new technologies”.

The candidate is expected to have at least five years of experience in the corporate transaction industry, experience in a large international law firm, and communication and project management skills.

As a reminder, the Walt Disney Company triggered the accelerator program for 2022 and included the Polygon second-level blockchain solution project. The Disney program this year emphasizes AI, augmented reality, and NFTs.

Participants in the accelerator program will get recommendations from top management at the business as well as from a dedicated mentor. This fall, a demonstration of the results ought to be made public.

“Disney was always at the forefront of using modern technologies to provide the entertainment of the future for almost a century. Disney Accelerator is honored to be a part of this tradition, and with our most recent class of companies, we anticipate reinforcing our dedication to innovation and bringing Disney viewers and visitors extraordinary experiences for the next 100 years,” said the program general manager.

The Disney venture also receives support from the NFT app Flickplay, the augmented reality systems Red 6 and Obsess, and the artificial intelligence initiatives Inworld and Lockerverse.

Walt Disney and WEB3

WMG’s growing workforce is also focused on growing the Web3 ecosystem and metaverse projects. With the advent of the Metaverse, new worlds will be available to consumers, created by combining animation, simulation, innovative technologies, and original storytelling. Three-dimensional digital visualizations will bring a new user experience to real life. Now such projects are becoming a real mainstream.

Disney even hired Mike Shinoda, co-founder of Linkin Park and a pioneer in music technology, to serve as a community innovation adviser, where he is assisting with “shaping the company’s artist-focused approach to Web3.”

Using blockchain technology, WMG announced in January the launch of a music theme park based on the metaverse platform – The Sandbox. It is meant to engage major artists like Ed Sheeran, Snoop Dogg, and Dua Lipa, as well as cover partnerships including The Walking Dead, Adidas, The Smurfs, CryptoKitties, and others.

In order to provide games for its artists, it announced a partnership with the blockchain project Splinterlands in February. Additionally, the company has created interactive experiences in association with the most popular NFT marketplaces OneOf and OpenSea, the online marketplace for digital collectibles Blockparty, the supplier of virtual entertainment Wave, the maker of avatar technology Genies, and the gaming platform Roblox.

Will Disney stand the competition?

Of all the major companies, the biggest bet on the metaverse has been made by Facebook, which renamed Meta last October. The corporation has already spent $10 billion to build virtual reality hardware and software. Meta promises to introduce an expanded version of its headset before the end of this year.

Fast food chain McDonald’s has also announced that it would open restaurants in the metaverse. It is known that the virtual restaurant will deliver food to your home. Moreover, Victoria’s Secret brand announced plans to create a metaverse lingerie store. The company has already filed four applications for new trademarks.

However, despite the high competition in this environment and the fierce fight for specialists, Walt Disney representatives have no doubt that they are moving in the right direction.


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Kevin Moore - E-Crypto News Editor

Kevin Moore - E-Crypto News Editor

Kevin Moore is the main author and editor for E-Crypto News.