Disney has entered into a partnership with blockchain and metaverse firm Dapper Labs to launch an NFT platform named Disney Pinnacle. The platform, announced on November 14, will tokenize Disney's classic cartoon characters spanning a century, as well as icons from Pixar and characters from the Star Wars universe. These will be presented as collectible and tradable digital pins on the NFT marketplace.

Disney Pinnacle aims to allow fans globally to collect dynamic pins on their phones and securely trade them with others worldwide. The platform, built on the layer-1 blockchain Flow (FLOW), developed by Dapper Labs, is set to launch later this year on the Apple App Store for iOS, the Google Play Store for Android, and on the web.

Roham Gharegozlou, co-founder and CEO of Dapper Labs, said:

“Fans anywhere will be able to collect dynamic pins on their phone and trade instantly and securely with each other no matter where they are in the world.”

This move comes after Disney's restructuring plan earlier this year, which saw the discontinuation of its metaverse division as part of cost-cutting measures. Despite the metaverse division's closure, Disney is embracing the NFT space through this collaboration with Dapper Labs, a Canadian firm known for NFT brands like CryptoKitties and NBA Top Shot.

Source : Yahoo crypto / Nov 15, 2023