Disney and Dapper Labs launch NFT platform Disney Pinnacle
Key Takeaways
- Disney and Dapper Labs have teamed up to create Disney Pinnacle, an NFT platform.
- The platform, which emphasizes easy and secure global transactions of digital pins, will be launched on iOS, Android and web platforms.
- This move into the NFT market represents a strategic shift for Disney. This is consistent with a broader trend of traditional entertainment companies embracing blockchain technology.
Disney In collaboration with Dapper Labs, a blockchain and metaverse company Launch of Disney Pinnacle, an innovative NFT (Non-Fungible Token) platform.
Announced on November 14, the new venture A groundbreaking step into the digital collectibles space. The platform aims to: Tokenize iconic cartoon characters from Disney, Pixar, and Star Wars. A unique, collectible and tradable digital pin.
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As Dapper Labs CEO Roham Gharegozlou explains, the platform aims to: Transforming the way fans collect and trade digital pins. Deliver a seamless, secure, and globally accessible experience.
Disney Pinnacle is set up as follows: Available later this year Currently available on major platforms such as iOS, Android, and web. Users are invited to join the waiting list on the official site..
Built on Flow blockchainDeveloped by Dapper Labs, Disney Pinnacle It leverages technology previously used by Ticketmaster. For NFT ticketing
This collaboration is Disney’s Strategic PivotIt was part of a broader restructuring plan to cut operating costs by $5.5 billion and cut 7,000 employees, especially after the closure of its Metaverse division earlier this year.
Dapper Labs, founded in Vancouver in 2018 and backed by a $15 million investment from Animoca Brands, continues to impact the NFT market with brands like CryptoKitties and NBA Top Shot despite layoffs for the third time in 2023.
The introduction of Disney Pinnacle marks Disney’s significant foray into the world of NFTs, working with an established player in the blockchain industry. The venture not only diversifies Disney’s digital offerings, but also signals the traditional entertainment giant’s growing integration into the blockchain and NFT sectors.
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