Disney is ready to enter the Web 3.0
Web3 is becoming common among entertainment giants like Disney
A LinkedIn job advertisement, posted on September 25, reveals that Disney is looking to hire a corporate lawyer who specializes in “emerging technologies” and non-fungible tokens (NFTs).
The "Principal Counsel - Corporate Transactions, Emerging Technologies & NFTs” would work on transactions involving new technologies such as NFTs, blockchain, the Metaverse, and decentralized finance.
"Assist in performing due diligence for NFT, blockchain, third-party marketplace and cloud provider projects, and negotiating and drafting complex agreements for those projects" says the job description.
Disney wants to be an early adopter and doesn't want to waste too much time advancing into Web3, therefore the new attorney would collaborate with other legal and business teams, including product, engineering, tech, and IP.
“Partner with business teams as they plan new global emerging technology projects, typically on an accelerated and aggressive timeline."
The candidate would be required to provide regular legal advice on "NFT and cryptocurrency-related
matters" and to "evaluate securities law issues in connection with the promotion and sale of NFTs". Disney’s NFTs will have to comply with both US and international laws.
From Fantasy World to Virtual World
As technology is evolving, we might transition into a virtual entertaining park earlier than we expected.
CEO Bob Chapek said in November 2021, that the firm was working on making it possible "to connect the physical and digital worlds even more closely, allowing for storytelling without boundaries in our own Disney metaverse".
A filed patent for a “virtual-world simulator”, referring to a potential theme-park metaverse describes a different experience for Disney fans. They would be able to visit their favorite characters or design unique interactive attractions, from the comfort of their homes, only by using their mobile devices to create and project customized 3D effects onto walls or other objects.
The company's Disney Accelerator Program, focused earlier this year on augmented reality (AR), non-fungible tokens (NFTs), and artificial intelligence (AI).
Polygon, the layer 2 scaling platform is one of the companies that will benefit from this business development platform, among other two Web3 initiatives: Flickplay and Lockerverse, where Flickplay enables users to discover NFTs through augmented reality (AR), and Lockerverse is a Web3 storytelling platform that connects creators and businesses.
Disney was already present in the NFT industry
There's an entire digital collection of NFTs, published on an app-based marketplace called VeVe, in collaboration with Disney: Golden Moments NFT, Marvel NFT, Mickey Mouse NFT, Mickey and Friends NFT, Pixar Pals NFT, Villains NFT, and many more.
When it comes to thrilling its fans, Disney is ready to go beyond imagination and explore the future as one of Walt Disney's famous quotes says:
"Disneyland will never be completed. It will continue to grow as long as there is imagination left in the world."
Crypto Educator, DeFi & Web 3 Content Writer