Disney is preparing to enter the Web3 world.
They have a job posting for an experienced corporate attorney familiar with new technologies such as NFTs, blockchain, metaverse, and DeFi.
The job advert was posted on LinkedIn over the weekend, showing that the entertainment company is taking digital collectibles and virtual worlds seriously.
Successful candidates would be in charge of providing complete product life cycle legal advice and support for global NFT products and ensuring regulatory compliance. Other responsibilities include screening potential partners such as blockchains and marketplaces.
The attorney would also be required to provide regular legal advice on NFT and cryptocurrency-related issues, particularly securities laws, which have been a bone of contention in the promotion and sale of digital art.
Prior experience in the NFT, cryptocurrency and Web3 spaces is highly desirable, and candidates are notified that new projects are typically launched on an accelerated and aggressive timeline, indicating that Disney intends to accelerate its ambitions.
Disney CEO Bob Chapek is a proponent of “next-gen storytelling,”
and he believes the metaverse can play an integral role in this.
It has the potential to deliver immersive experiences in a consumer’s home if done correctly. The company’s strategy is being fine-tuned using data from theme park visits and what consumers watch on Disney+.
Many consumers are still skeptical of NFTs and the metaverse, owing to high technical barriers to entry and a lack of usability across specific platforms. Others have criticized the market’s speculative nature, with some collectibles fetching exorbitant prices.
Another source of concern has been the environmental impact of Proof-of-Work blockchains. To some extent, Ethereum’s transition from a Proof-of-Work to a Proof-of-Stake consensus mechanism has helped to reduce the ecological damage debate.
Given its extensive library of TV shows and films, Disney’s decision to enter this market makes business sense.
Also, as an early adopter, the company may be better positioned to combat fake NFT collections that use its intellectual property without permission.
We don’t know what Disney’s NFT and metaverse goals are at this point, but the fact that this job listing is in Web3 could be a defining moment for adoption.
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