Is Disney about to make its big crypto move into NFT, Metaverse and DeFi?
Although it would not be the first step in this direction, it is yet another suggestion that the media giant The Walt Disney Company may be preparing for a major move into the metaverse, non-fungible tokens (NFT) and decentralized finance (DeFi).
Disney is looking to hire a transactional attorney to explore new technology opportunities, including NFT, blockchain, metaverse and DeFi, according to a job posting on LinkedIn posted over the weekend.
This would be “an experienced corporate lawyer” who would work for the company’s Corporate Transactions Group, within the legal department.
The rent wanted
“Partner with business teams as they plan new global, emerging technology projects, typically on an accelerated and aggressive timeline.”
Additionally, they will be required to provide legal advice and support for global NFT products, and work closely with other Disney attorneys and business stakeholders, including Disney Media and Entertainment Distribution and Disney Parks, Experiences and Products, the announcement said.
They must ensure the NFT product’s compliance with applicable US and international laws and regulations, as well as,
“Assist in performing due diligence for NFT, blockchain, third-party marketplace and cloud provider projects, and negotiate and draft complex agreements for these projects.”
The position will further be required to provide day-to-day legal advice on crypto-related matters, including reviewing marketing and advertising disclosures, as well as evaluating securities law issues related to the promotion and sale of NFTs.
The advertisement also states that the lawyer would
“Provide thought leadership and strategic direction on products involving digital currency and blockchain technology, while advising on related legal and regulatory issues.”
This person must have a minimum of 5-8 years of experience managing and running complex corporate transactions, while experience in the NFT, cryptocurrency and web3 space is preferred, including having knowledge of legal considerations and issues related to this area.
Corporate lawyers typically structure transactions, draft documents, negotiate agreements and work to ensure that the provisions of an agreement are clear, unambiguous and will not cause problems for their clients in the future.
Next generation storytelling
Meanwhile, earlier this month at the D23 Expo fan conference, as reported by Deadline, Disney CEO Bob Chapek talked about the company’s plans when it comes to Disney’s metaverse, saying:
“We call it next-generation storytelling. We tend not to use the M-word too often, because it has a lot of hair on it. But yeah, Disney+ won’t just be a movie service platform, but it’s going to be an experiential lifestyle platform. A platform for the entire company to embody both the physical things you might experience in a theme park, but also the digital experiences you can have through media.”
The CEO went on to briefly discuss the company’s plans to enable anyone, including those unable to visit Disney properties and events, to virtually experience “something akin to a physical experience,” mentioning a potential existence of “an experience platform.”
Back in February of this year, the company created a specialized unit of executives and managers to oversee the move into the metaverse. It was decided that Mike White, an executive who had been at Disney for over a decade, would oversee the team which included senior executives. White was also named Senior Vice President of Next Generation Storytelling and Consumer Experiences, according to an internal memo at the time.
Disney also launched its own Valentine’s Day-themed NFT offerings this year, moving to hire an NFT “expert” manager.
Before that, in November 2021, Chapek told attendees on a quarterly earnings call that “in our own Disney Metaverse,” the company would “be able to connect the physical and digital worlds even more closely, enabling storytelling without borders.”
About a month later, a patent was granted in the United States for a “virtual world simulator in a real location.”
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Learn more:
– Disney Launches Specialized Metaverse Team to Explore “New Storytelling Frontier”
– CEO says Disney is preparing for the technological leap into the metaverse
– How Disney leans into the metaverse
– A Journey Into Crypto: From Disney & Venmo to LinksDAO
