Summary:
- Disney’s collaboration with Dapper Labs introduces Disney Pinnacle, an NFT platform set to feature iconic characters for collectable digital pins.
- The platform’s launch later this year aims for accessibility across major app stores and the web, utilizing the Flow blockchain developed by Dapper Labs for NFT hosting.
Disney has stepped into the world of non-fungible tokens (NFTs) in collaboration with Dapper Labs, unveiling their NFT platform called Disney Pinnacle, set to debut later this year.
The Evolution Of Disney’s NFT Platform
In an announcement on November 14, Disney revealed plans to tokenize its iconic cartoon characters spanning a century-long legacy onto the Disney Pinnacle NFT marketplace. This platform won’t merely feature Disney classics but will also incorporate beloved characters from Pixar and the heroes and villains of the Star Wars universe, presented uniquely as collectable and tradeable digital pins.
Dapper Labs CEO Roham Gharegozlou highlighted the accessibility of the platform, explaining that fans worldwide could collect dynamic pins on their mobile devices and securely trade them regardless of their location.
Disney Pinnacle : Platform Launch And Technical Framework
Scheduled for a launch later this year, Disney Pinnacle will be available on major app stores like the Apple App Store for iOS, the Google Play Store for Android, and web platforms. Presently, the platform’s official page hosts a waitlist and a landing site. Notably, Disney Pinnacle is constructed on the layer-1 blockchain Flow, a creation of Dapper Labs. This blockchain previously hosted NFT event tickets by Ticketmaster.
Disney’s Previous Metaverse Restructuring And Dapper Labs’ Journey
Earlier this year, Disney underwent a restructuring initiative, discontinuing its metaverse division as part of a broader plan to reduce operating expenses by $5.5 billion, leading to the layoff of around 7,000 staff members over two months. The Metaverse division’s disbandment left approximately 50 employees without new employment contracts.
Dapper Labs, founded in Vancouver in 2018, garnered a $15 million investment from Hong Kong-based Web3 creator, Animoca Brands. Despite this, the company announced its third round of staff layoffs in July 2023, showcasing fluctuations amid its journey. Renowned for its NFT brands such as CryptoKitties and NBA Top Shot, Dapper Labs remains a key player in the NFT space.