There are interesting recent developments from the Walt Disney Company concerning the cryptocurrency industry.
The Walt Disney Company is on the verge of joining the crypto industry after providing a listing of a new job detailing an experienced corporate attorney to focus on developing technologies such as the Non-Fungible Tokens (NFTs) and the Metaverse.
Disney Seeks Experienced Lawyer for NFT technologies
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The listing was made available on Friday via the company’s careers website. The company also posted the vacancy on LinkedIn over the weekend. The careers website indicates that Walt Disney is recruiting a Principal Counsel — Corporate Transactions, Emerging Technologies & NFTs. The role involves collaborating on transactions on NFTs, the Metaverse, blockchain, and decentralised finance (DeFi).
Walt Disney Company further went ahead in elaborating the responsibilities of the role. The successful candidate will provide full product life cycle legal advice and support for global NFT products. They ought to ensure that the company complies with all current laws and regulations in the United States and other global regions. In addition, the hired attorney shall provide due diligence for NFTs, blockchain, third-party marketplace, and cloud provider projects. They shall also provide day-to-day legal advice on crypto-related matters, and digital currency, lead cross-functional Disney meetings and guide the company’s efforts towards emerging technologies.
What is needed to work for Walt Disney with crypto?
Disney lists prior experience in NFTs, cryptocurrency, and the Web 3 space as highly desirable. The company warns potential candidates that new projects are conducted on an accelerated and aggressive timeline.
The attorney shall closely collaborate with other Disney attorneys and business stakeholders, including Disney Media and Entertainment Distribution and Disney Parks, Experiences, and Products.
Disney’s Previous Work in the Crypto Industry
The new role comes when Walt Disney Company has been drafting strategies for exploring Web 3 technologies around crypto, blockchain, and the metaverse space. In November 2021, during the company’s fourth-quarter earnings call, the Chief Executive Officer( CEO), Bob Chapek, revealed that the company is prepping for the Metaverse by blending physical and digital assets.
A few weeks after the CEO made this call, the company filed a patent for a virtual-world simulator. It was referring to a potential theme park in the metaverse. The patent application involved Disney’s charge into the metaverse to comprise visitors entering their themed parks via a mobile phone. The mobile phone generates and projects personalised 3D effects onto nearby physical spaces such as walls and various matter.
The CEO, Bob Chapek, is advocating a concept labelled next-gen storytelling, which he believes requires the metaverse to play a starring role. Its ideal execution could deliver immense experiences in a consumer’s home. The company will utilise data from theme park visits and what consumers are streaming on Disney+ to hone this strategy.
At the time of the Crypto Lists report, there were no plans underway to use the virtual world simulator patent. The recent development on the experienced corporate attorney listing could be a sign that this is changing.
Walt Disney Company has dipped itself into NFTs before after releasing a limited collection coinciding with Disney+ Day last year.
The Walt Disney Company is veering further into Disney NFTs after it decided to partner with VeVe. It is a prominent and reputable NFT mobile application. The partnership enables Disney to launch several NFT collections. In collaboration with VeVe, Disney released Disney Golden Moment. These featured some popular characters and icons from franchises on the streaming service.
The previous CEO of Disney, Robert Iger, has gone on record while talking about the advent of Disney NFTs. He mentions that Disney has copyrights, trademarks, and characters that present extraordinary NFT possibilities. The company could pursue hiring an experienced corporate attorney to address potential issues on NFTs and emerging technologies.
Earlier in 2022, Disney focused on Augmented Reality, NFTs, and Artificial intelligence in its Disney Accelerator Program. The Program selected six growth stage companies to gain from its business development platform. These companies included Polygon, a layer 2 scaling platform that has experienced immense growth. It also comprised other Web 3 projects such as Flickplay and Lockerverse. FlickPlay enables users to discover NFTs through augmented reality, while Lockerverse is a storytelling platform to link creators and brands.
Disney to Accommodate Web3 adoption
Several consumers are unconvinced about NFTs and the metaverse due to technical barriers of entry and lack of usability in some platforms. Others criticise the speculative nature of NFTs with some collections earning significant amounts of funds. Despite these concerns, Disney has the edge due to its extensive list of TV shows and films. Crypto Lists believes the job listing is a significant move towards Web 3 adoption by Disney.