Disney has created a non-fungible token (nft) platform together with blockchain and metaverse company Dapper Labs.
According to November 14 advertisement, Disney will tokenize its iconic cartoon characters from the last century on its nft marketplace dubbed “Disney Pinnacle.” The platform will also include Pixar icons, as well as heroes and villains from the Star Wars galaxy, with a unique style as collectible and marketable digital pins. “Fans on the go will be able to collect dynamic pins on their phone and instantly and securely trade with each other no matter where they are in the world,” explained Dapper Labs CEO Roham Gharegozlou.
The nft platform will launch later this year on the Apple App Store for iOS, the Google Play store for Android, and on the web. As of now, there is only a waiting list and a destination site on their official website. Disney Pinnacle is built on the layer one Flow blockchain, which was also created by Dapper Labs. Previously, Ticketmaster chose to mint nft event tickets on the Flow blockchain.
Earlier this year, Disney decided to close its Metaverse division as part of a broader restructuring plan to reduce its operating expenses by $5.5 billion and lay off 7,000 employees within two months. The approximately 50 members of the metaverse division were left without a new employment contract.
Founded in Vancouver, Canada, in 2018, Dapper Labs received a $15 million investment from Hong Kong-based Web3 creator Animoca Brands. In July 2023, Dapper Labs announced its third round of staff layoffs so far this year. The company is known for its nft brands such as CryptoKitties and NBA Top Shot.
Related: Disney Reportedly Scrapping Its Metaverse Division
