The Walt Disney Company is expected to be making its expansion to the cryptocurrency sector after posting a new job for an experienced corporate attorney to work towards developing technologies such as non-fungible tokens (NFTs) and the metaverse, as reported by Cointelegraph.
According to Cointelegraph, through a listing on the Disney careers website, it was found that the company is recruiting for a principal counsel of corporate transactions, emerging technologies, and non-fungible tokens (NFTs), to work on transactions around NFTs, metaverse, blockchain, decentralised finance (DeFi), among others. The entertainment conglomerate is looking for someone to give product life cycle legal advice and support for global NFT products, and ensuring the compliance with current US-based laws and regulations and also internationally. The company has mentioned that other duties will include NFTs, blockchain, third-party marketplace and cloud provider projects, along with legal recommendations on cryptocurrency-related matters, digital currency and guiding Disney’s efforts with regard to emerging technologies.
On the basis of information by Cointelegraph, the new role comes post Walt Disney’s efforts towards adoption of the cryptocurrency, blockchain and metaverse space. At the time of the company’s fourth-quarter earnings call in November, 2021, Bob Chapek, CEO, Walt Disney, higlighted about the firm’s preparations to blend physical and digital assets in the metaverse. A patent application filed by Walt Disney stated the platform’s possible foray into the metaverse could lead to the involvement visitors going to theme parks using mobile phones to generate and project personalised three-dimensional (3D) projects onto physical spaces such as walls and other objects.
Moreover, Cointelegraph noted that earlier this year, the company had reportedly focused on augmented reality (AR), NFTs and artificial intelligence (AI) in its 2022 Disney Accelerator Program, which made the selection of six companies to benefit from its business development platform. Furthermore, companies selected include layer-2 scaling platform Polygon, and Web3.0 projects such as Flickplay, a Web3.0 application which permits users to discover NFTs through augmented reality (AR), and Lockerverse, a Web3.0 storytelling platform to create linkage between creators and brands.
(With insights from Cointelegraph)