Editing by Nathaniel Cajuday
Entertainment giant Walt Disney Company has recently posted a job opening for a legal expert on emerging technology, non-fungible tokens (NFTs), decentralized finance (DeFi), and the metaverse. This could reaffirm that the company is stepping into its Web3 journey.
Based on the job posting for Principal Counsel for Corporate Transactions, Emerging Technologies, and NFTs, some of their roles are to:
- Provide full product life cycle legal advice and support for global NFT products, working in close collaboration with other Disney attorneys and business stakeholders, including Disney Media and Entertainment Distribution and Disney Parks, Experiences, and Products. Ensure NFT product compliance with applicable U.S. and international laws and regulations.
- Assist in performing due diligence for NFT, blockchain, third-party marketplace, and cloud provider projects, and negotiating and drafting complex agreements for those projects.
- Provide day-to-day legal advice to Disney legal and business teams on NFT and cryptocurrency-related matters and issues, including reviewing marketing and advertising disclosures and evaluating securities law issues in connection with the promotion and sale of NFTs.
This posting may align with the company’s plans to advance the use of Web3 technology in terms of cryptocurrencies, blockchain technology and metaverse ecosystems. Ironically, the entertainment company is not keen on using the word “Metaverse” openly. It would rather describe its version of the Metaverse as “next generation storytelling,” during a backstage interview during the D23 Expo.
“We call it next-gen storytelling. We tend not to use the M[etaverse] word too often because it has a lot of hair on it,” said Bob Chapek, Walt Disney Company Chief Executive Officer (CEO).
According to Chapek, Disney’s coming into Web3 and Metaverse spaces will need the use of information from the physical and digital worlds to enforce its Metaverse policy. It is also considering using information from theme park visits and consumer online streaming habits for its Metaverse strategy.
Disney gave a sneak peek of its possible journey into the Web3 space when it dropped the Walt and Mickey “Partners” NFT on the VeVe app last year. It also launched the “Golden Moments” NFT series on VeVe, including Spiderman, Mickey Mouse, Marvel, and Pixar collections.
Apparently, Disney is not the first entertainment firm to adopt these technologies. Back in 2021, studios like Warner Bros, Sony, and Lionsgate minted their own NFTs collected related to their movies.
This article is published on BitPinas: Disney Hires Blockchain Lawyer and Experts
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