Disney is seeking a leader to guide its entry into the world of digital assets as the NFT craze sweeps the entertainment sector.
This week, the media juggernaut with its headquarters in Burbank posted a job opening for someone to “help lead Disney’s efforts in the NFT space.” According to the job posting, the business development manager would set strategy, oversee partnerships, and keep an eye on the “evolving” NFT market. “Knowledge of and passion for digital and NFT categories” are requirements for the position.
Non-fungible tokens, or NFTs, are digital assets that are authenticated by blockchain technology and provide their owners with ownership and ownership proof. Even though it’s still unclear whether NFTs are just a fad or the start of a multibillion-dollar industry, entertainment companies in the music, film, and gaming industries have been quick to sell them.
When it started selling digital comic books and collectibles from its Marvel franchise last year, Disney entered the NFT market. Later, the business offered digital artwork honouring “Golden Moments” from other well-known properties, such as “Star Wars” and “The Simpsons.” The Disney Plus streaming service was also made available for three months free to purchasers of the digital golden trophies sold through the NFT platform VeVe.
An inquiry for comment was not answered by Disney representatives.
NFTs are here to stay, according to former Disney CEO Bob Iger, who compared them to baseball cards last week. He claimed in an interview with the New York Times that Disney would be well-positioned to benefit from digital collectibles thanks to its sizable library of intellectual property.
He remarked, “When you consider all the copyright and trademarks, [the] characters Disney has. The possibilities offered by NFT are extraordinary.
In addition to these media behemoths, Warner Bros., Lionsgate, and ViacomCBS have also entered the NFT market. Additionally, musicians like Grimes and the Kings of Leon have entered the battle. Coachella, a well-known music festival in Southern California, revealed on Tuesday that it would auction off lifetime tickets for NFTs.
There have been some issues with the NFT craze. While NFT marketplace OpenSea this week revealed that roughly 80% of the tokens minted for free on its platform are spam or scams, some gamers have resisted attempts to buy NFTs within their preferred games.