- November 14, 2023
- Posted by: admin
- Category: BitCoin, Blockchain, Cryptocurrency, Investments
Entertainment giant Disney announced a new line of digital collectibles, which will be offered under the brand name Disney Pinnacle, on Nov. 14.
The project’s X page indicates that users will be able to collect and trade digital pins featuring characters from Disney and Pixar franchises. Featured characters include Mickey Mouse, Sebastian from The Little Mermaid, and Woody from Toy Story.
Disney Pinnacle’s website, meanwhile, indicates that the items will be created by Dapper Labs, best known for its CryptoKitties and NBA Top Shots NFT lines.
Though the announcement does not emphasize the blockchain-based nature of the product line, Pinnacle’s terms of service refer to the pins as “digital tokens” and “non-fungible tokens” built on Dapper Labs’ Flow blockchain network. The terms additionally indicate that users will need to use the Pinnacle app alongside a cryptocurrency wallet.
Users will be able to buy individual digital tokens directly from the app, buy randomized token packs, and buy and sell tokens with other users. Users will also be able to earn free pins by taking part in contests, marketing campaigns, and specific tasks.
Disney Pinnacle’s terms of service state that the app and service will be available in various approved regions, including the U.S., Canada, and 32 other countries. Additionally, the service will only be available to users over the age of 18.
Disney has previously offered NFTs
This is not the first time that Disney has taken an interest in blockchain and NFTs. In November 2021, it launched a series called Disney Golden Moments in partnership with Veve, a digital collectibles marketplace using the Immutable X blockchain.
Prior to that, in mid-2022, the company selected Polygon as a participating blockchain in its accelerator program. Disney also selected two NFT projects, Lockerverse and Flickplay, to take part in the accelerator program at that time.
The current news comes months after Disney ended its metaverse efforts. The company cut its entire metaverse team, amounting to 50 staff, in March 2023. However, it is not clear that this team was involved in current or previous NFT efforts.
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