Oh, they’re really doing it? Yes, the Walt Disney Company will enter the NFT market with a project called Pinnacle. I guess we can’t say non-fungible tokens are truly dead until there’s one of Mickey Mouse.
If you couldn’t already tell, Pinnacle will be based on Disney’s trendy trading pins. In a way, it makes sense for the company to take this route since it has a built-in base of collectors. Also, Disney could make quite a killing with Pixar, Star Wars, and many other iconic studios/brands/characters under its umbrella.
Thanks to The Verge, we learned about Pinnacle and Disney’s collaboration with Dapper Labs. The Mouse and a blockchain game developer partnership could be interesting … or disastrous if the past few years of NFT trainwrecks is anything to go by.
A quick peruse of the project’s official website gives us a glimpse into what the NFT tokens will look like, and Dapper Labs’s press release has this to say:
“Disney Pinnacle is an all-new product designed from the ground up to incorporate everything we’ve learned over the past few years,” says Roham Gharegozlou, co-founder and CEO of Dapper Labs. ‘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.'”
They will be shaped like a pin, complete with a cap on the back where a physical pin’s pointy end would be. Although we don’t get to see any actual NFTs, the landing page does bear three company logos:
- Walt Disney Animation Studio
- Pixar
- Star Wars
Pinnacle will launch sometime before the end of the year.
Currently, you can only join a waitlist for the digital pins. According to a CoinDesk article, the plan is to roll out Pinnacle via an iOS app with desktop and Android accessibility to be available later.
For those who have avoided the NFT fiasco, non-fungible tokens are bits of code on the blockchain that link to something. That can be a video, a piece of art, text, or a 3D file. However, in most cases, you do not own the digital icon but only the blockchain address.
[Source: Verge]
[Source: Official Website]
[Source: CoinDesk]
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