Disney Launches NFT Marketplace With Dapper Labs Featuring Iconic Animation And Star Wars Characters
Portfolio Pulse from Khyathi Dalal
Disney (NYSE:DIS) has launched Disney Pinnacle, an NFT marketplace in collaboration with Dapper Labs, featuring digital pins of characters from Disney's iconic animations, Pixar, and Star Wars. The platform is currently in an 'early access, closed release' phase for invited users, with a full launch expected later in 2023 on iOS, Android, and web platforms. Dapper Labs, known for NFT brands like CryptoKitties and NBA Top Shot, is leveraging Disney's popularity to drive Web3 technology adoption. Disney recently closed its metaverse division and laid off 7,000 staff to reduce operating expenses.
November 14, 2023 | 9:44 pm
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Disney has entered the NFT space with Disney Pinnacle, offering digital collectibles of its famous characters. The move could attract new revenue streams and engage a tech-savvy audience, despite the recent downsizing of its metaverse division.
The launch of Disney Pinnacle NFT marketplace aligns with the growing interest in digital collectibles and could provide Disney with a new revenue stream. The focus on iconic characters may enhance its appeal and drive user engagement. However, the recent downsizing of the metaverse division and layoffs indicate a cautious approach to new digital ventures, which may temper investor expectations.
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