Disney has teamed up with web3 gaming studio Dapper Labs to launch an app for fans to collect digital collectibles. The ‘Disney Pinnacle’ app aims to digitize Disney fans’ pin collection. Small and portable, Disney pins come in a variety of designs and represent popular Disney characters, movies, and theme park attractions. However, the initiative has tried to stay away from the term ‘NFT’ – digital tokens that are notorious for their volatile nature in terms of value.
Disney Pinnacle will allow fans to purchase digital versions of the physical pins that are popular at Disney amusement parks, AdAge said in a statement. report on Tuesday.
The Disney-dapper duo has opened a waitlist program for interested people to register for early access on the Disney Pinnacle mobile app.
“As the technology gets better we can abstract it more, so the word ‘NFT’ doesn’t appear anywhere in the product. It’s because of the open nature of the Web3 platform that we can have full authenticity, guaranteed merchantability, full ownership and all these features that differentiate these products from stickers on WhatsApp or whatever,” said Roham Gharegozlou, CEO Dapper. Labs was quoted commenting on the development.
Instead of NFTs, these digital Disney pins will be called ‘digital collectibles’. The duo’s decision to stay away from the NFT tag could possibly be an effort to stay away from the uncertainty and doubt surrounding NFTs. recently dappGamble The report claims that most NFTs have lost their value against the backdrop of the volatile Web3 market.
Meanwhile, all digital Pins made available through this program will be based on Disney’s original intellectual property and minted on the Flow blockchain. Collectors will be given a platform to buy and trade pins with others through the app. They will need to register themselves on the Dapper Wallet ecosystem which will be accessible from within the app.
Disney has been trying to test the Web3 waters for some time now. In February last year, the entertainment conglomerate appointed new executives to craft profitable metaverse strategies. The company was also looking to engage corporate lawyers to deal with legal work around emerging technologies like NFTs and the metaverse.
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