Disney Taking an “Aggressive” Approach to NFT and DeFi by Hiring Transaction Lawyer

Subh Rath

September 27, 2022

If you’re a 90s Disney kid or a 21st-century teen who has grown up watching ‘Mickey Mouse Club House’ or ‘Shake It Up,’ you’d feel nostalgic to reconnect with our favourite kid’s channel in the Web3 metaverse. Yes – Disney is delving further into non-fictional worlds (NFTs) and the metaverse.

The multinational entertainment corporation recruits a principal counsel with expertise in non-fungible tokens (NFTs), the metaverse, blockchain technologies, and decentralized finance. This individual will guide the company through what appears to be its imminent and aggressive push into Web3.

The Walt Disney Company is looking to hire a transaction lawyer to examine future technology prospects, including NFTs, while working at an “accelerated and aggressive timeline,” as stated in a job advertisement on LinkedIn by the entertainment giant on Saturday morning.

In addition, the job description for this position stated that the attorney would “partner with business teams as they plan new global emerging technology projects.” These projects would cover additional fields, such as the metaverse and decentralized banking.

Furthermore, the job post on LinkedIn also mentions the job for a potential transaction lawyer for “Assisting in performing due diligence for NFT, blockchain, third-party marketplace and cloud provider projects, and negotiating and drafting complex agreements for those projects,” 

Here are some pointers on how Disney is slowly making its move to Web3 and the blockchain industry:

  • Deadline reported that during the D23 Expo fan convention of Disney on Sep 10, Disney CEO Bob Chapek mentioned how the entertainment giant is exploring and planning to step into the metaverse. Chapek also mentioned, “We call it next-gen storytelling,” and, “We tend not to use the M word too often because it has a lot of hair on it.”
  • Before this, in June of this year, the Mickey Mouse corporation hired a long-time Apple executive to fill the position of vice president. This was done to follow through with their goals of developing a “Next Generation Storytelling Creative Experiences.” The following month, an executive responsible for customer experiences was promoted to the executive vice president following the same plan.
  • Furthermore, another piece of news about Disney’s move to Web3 came out last year with the drop of a “Partners” NFT of Walt & Mickey. This NFT was launched on the VeVe app, which is available on iOS and Android devices. 
  • Disney’s awareness of the rising regulatory and legal challenges impacting the cryptocurrency and NFT industries is further evidenced by this hire. According to the job description, the NFT legal czar at Disney will analyze “securities law problems” related to “the promotion and selling of NFTs.”

Conclusion:

With various news and updates about Disney moving toward NFTs and blockchain at a steady pace, it is pretty visible that Disney has hired several NFT experts and recruited several cryptocurrency startups for its accelerator program. Yet, despite several recruitment updates, the nature of the company’s Web3 goals remains unclear.