After posting a new job for an “experienced corporate attorney” to work on “emerging technologies” such as NFTs and the Metaverse, the Walt Disney Company may be on the verge of expanding into the crypto space.
According to a job posting on the Disney careers website, the company is looking for a “Principal Counsel — Corporate Transactions, Emerging Technologies & NFTs” to work on transactions involving NFTs, the Metaverse, blockchain, and decentralized finance on Friday (DeFi).
Disney is going full-force in the NFT/Metaverse space!
The entertainment conglomerate seeks someone to provide “full product life cycle legal advice and support for global NFT products” and ensure compliance with all current laws and regulations on US soil and internationally.
Other responsibilities include “due diligence for NFT, blockchain, third-party marketplace, and cloud provider projects,” regular legal advice on cryptocurrency and digital currency matters, and guiding Disney’s efforts in relation to emerging technologies.
The new position comes as The Walt Disney Company gradually positions itself in the crypto, blockchain, and metaverse space.
CEO Bob Chapek stated during the company’s fourth-quarter earnings call in November 2021 that the company was preparing to merge physical and digital assets in the Metaverse. A few weeks later, the company filed a patent for a “virtual-world simulator,” a possible theme-park metaverse.
According to the patent application, Disney’s potential foray into the Metaverse could involve theme park visitors using their mobile phones to generate and project personalized 3D effects onto nearby physical spaces, such as walls and other objects.
When it was reported, there were “no current plans” to use the “virtual-world simulator” patent.
However, the recent job posting could indicate that this is changing.
In its 2022 Disney Accelerator Program, which selected six “growth-stage” companies to benefit from its business development platform earlier this year, the company focused on augmented reality (AR), NFTs, and artificial intelligence (AI).
Polygon, a layer-2 scaling platform, was chosen for the program this year, as were two other Web3 projects: Flickplay, a Web3 application that allows users to discover NFTs through augmented reality (AR), and Lockerverse, a Web3 storytelling platform that connects creators and brands.