The vacancy was quietly uploaded to LinkedIn over the weekend, and shows that the entertainment giant is getting serious about digital collectibles and virtual worlds.
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Disney is suiting up as it prepares to delve into the world of Web3 — and has launched a job listing for an experienced corporate attorney who is familiar with emerging technologies "including NFTs, blockchain, metaverse and decentralized finance."
The vacancy was quietly uploaded to LinkedIn over the weekend, and shows that the entertainment giant is getting serious about digital collectibles and virtual worlds.
Successful applicants would be tasked with providing "full product life cycle legal advice and support for global NFT products" — and ensuring they're compliant with regulations. Other responsibilities would include vetting potential partners such as blockchains and marketplaces.
This attorney would also have to provide regular legal advice on "NFT and cryptocurrency-related matters and issues" — especially concerning securities laws, which has been a sore point when it comes to the promotion and sale of digital art.
Prior experience in the NFT, cryptocurrency and Web3 space is described as highly desirable — and indicating that Disney plans to expedite its ambitions, candidates are warned that new projects tend to be rolled out "on an accelerated and aggressive timeline."
Staying Current
Disney's CEO Bob Chapek is championing a concept called "next-gen storytelling" — and he believes that the metaverse could play a starring role in this. If executed right, it could deliver immersive experiences in a consumer's home. Data from theme park visits, as well as what consumers are streaming on Disney+, are being used as it hones its strategy.
The company has also dipped its toe into the world of NFTs before — releasing a limited collection to coincide with Disney+ Day last year.
In collaboration with VeVe, it released "Disney Golden Moments" — featuring "some of the most beloved characters and icons" from franchises featured on the streaming service.
Many consumers are yet to be convinced about NFTs and the metaverse — primarily because of high technical barriers to entry, and a lack of usability among certain platforms. Others have been critical of the speculative nature of this space, with some collectibles selling for eye-watering sums of money. The environmental impact of Proof-of-Work blockchains has been another concern — a criticism dampened somewhat by Ethereum's move to Proof-of-Stake.
It makes business sense for Disney to explore this space because of its vast back catalog of TV shows and films. What's more, being an early adopter could ensure that the company is better positioned to ward off counterfeit NFT collections that utilize its intellectual property without permission.
While exact details of Disney's NFT and metaverse ambitions remain unclear at this stage, this job listing is significant — and its arrival in Web3 could be a watershed moment for adoption.
