Disney and Dapper Labs Collaborate on ‘Disney Pinnacle’ Digital Collectibles App, but Avoid the Term ‘NFT’
Written by Sanjay Kumar
In a groundbreaking partnership, Disney has joined forces with Web3 gaming studio Dapper Labs to introduce the ‘Disney Pinnacle’ app, a digital platform designed for fans to curate their favorite Disney pin collections. These cherished pins, known for their diverse designs representing iconic Disney characters, movies, and theme park attractions, are set to take on a new digital form, providing enthusiasts with an innovative way to engage with their favorite collectibles.
The ‘Disney Pinnacle’ app, however, notably avoids the use of the term ‘NFT’ (Non-Fungible Token), a digital asset notorious for its market volatility. While the initiative embraces the blockchain technology underlying NFTs, it aims to distance itself from the associated uncertainties in value.
According to a report by AdAge, the app will enable fans to purchase digital versions of the beloved physical Disney pins that remain popular at amusement parks. To further enhance the user experience, Disney and Dapper Labs have initiated a waitlist program, allowing interested individuals to register for early access to the mobile application.
Roham Gharegozlou, CEO of Dapper Labs, emphasized the importance of leveraging Web3 platforms for their authenticity, guaranteed tradability, and full ownership features, without explicitly using the term ‘NFT’ in the product. Gharegozlou stated, “As the technology gets better we can sort of abstract it out more, so the word ‘NFT’ doesn’t show up anywhere in the product.”
Contrary to conventional NFTs, these digital Disney pins will be termed ‘digital collectibles.’ This strategic decision appears to be a proactive measure by the Disney-Dapper duo to sidestep the uncertainties and suspicions surrounding the NFT market, as indicated by a recent dappGambl report citing a decline in NFT values within the Web3 market.
All digital pins offered through the ‘Disney Pinnacle’ program will be based on Disney’s original intellectual property and will be minted on the Flow blockchain. Collectors will enjoy a dedicated platform within the app to buy, sell, and trade these digital collectibles. To participate, users will need to register on the Dapper wallet ecosystem, seamlessly accessible from within the application.
Disney’s foray into the Web3 space began in February of the previous year when the entertainment giant appointed new executives to strategize profitable ventures in the metaverse. Additionally, Disney sought to bolster its legal team to navigate the evolving landscape of emerging technologies, including NFTs and the metaverse.
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