The entertainment company has recently decided to give Web3 another shot. The company announced a new collaboration with Dapper Labs, a metaverse startup.
This membership will let Disney introduce a new NFT platform. Let’s discover more about this important news
Dapper Labs and Disney Integration
The new Disney Pinnacle has been described as “revolutionary”. Dapper Labs is working with Disney to leverage the popularity of some of Disney’s legendary characters. Dapper Labs was behind one of the most successful NFT collections, the NBA Top Shot. At the height of the last bull run, the trading card collection gained more than $200 million in monthly trade.
This new initiative will allow fans to collect, trade, and display digital pins featuring their favorite characters. They plan to tokenize some of its well-known cartoon characters including legends from Pixar icons and digital pins featuring Star Wars characters.
BREAKING: Disney reveals new NFT project called “Digital Pins”
Disney has partnered with Dapper Labs and Flow to launch a new product called “Disney Pinnacle”, which will allow fans to collect digital pins featuring their favorite Disney, Pixar, or Star Wars characters.… pic.twitter.com/eKQqSM6LKI
— Derick D (@jeazous) November 14, 2023
Roham Gharegozlou, co-founder and CEO of Dapper Labs, said “Disney Pinnacle is an all-new product designed from the ground up to incorporate everything we’ve learned over the past few years.”
How is Disney Pinnacle Different?
Gharegozlou added that the design of Disney Pinnacle was influenced by the lessons acquired in the last few years.
This new iniciative will be available for iOS devices on the Apple App Store later this year, according to the company. This means that users can share and move their collections across networks.
Disney is coming to Web3.
Dapper Labs is partnering with the $159B entertainment conglomerate to bring Web3 IP to the masses.
Do you think the Simpsons NFT episode timing was a coincidence?
Disney acquired 21st Century Fox in 2019 which had the rights to the Simpsons.
— s4mmy.moca (@S4mmyEth) November 14, 2023
Gharegozlou believes that fans will find appeal in the new service. He explained that “fans anywhere will be able to collect dynamic pins on their phone and trade instantly and securely with each other no matter where they are in the world.”
Can Disney Pinnacle Change the NFT Market?
The NFT market is not nearly as popular or as successful as it was in 2021. Disney Pinnacle will provide the market with a newfound sense of excitement, according to Gharegozlou. Dapper Labs claimed it designed this initiative with the average Disney fan in mind. Disney Pinnacle will appeal to non-native crypto users and will also feature easy payment options.
As mentioned earlier, Disney already has previous experience in the NFT space. It participated in other blockchain-based NFT projects, such as Veve, a digital collectibles company. Disney and Veve launched the “Golden Moments” NFT collection in 2021 to cater to fans of the brand. Disney also branched into the metaverse but pulled back due to a restructuring plan.