Walt Disney Forays Into Web3 Space, Seeks To Hire Lawyer With Experience In 'Cutting-Edge Technologies'

In an apparent bid to expand into the Web3 space, entertainment giant Walt Disney Company DIS is seeking to hire an experienced corporate attorney to work toward developing technologies like non-fungible tokens (NFTs) and the metaverse.

The company is seeking a ‘Principal Counsel - Corporate Transactions, Emerging Technologies & NFTs’ to work on transactions including NFTs, the metaverse, blockchain, and decentralized finance (DeFi), among other things, according to a job posting on the Disney careers website.

Walt Disney is searching for someone to provide product life cycle legal counsel and assistance for worldwide NFT goods, as well as to ensure compliance with current U.S.-based rules and regulations and those that apply globally.

NFTs, blockchain, third-party marketplace, cloud provider initiatives, legal advice on cryptocurrency-related issues, digital currency, and directing Disney's activities with regard to future technologies are among the other responsibilities, according to the conglomerate.

The new position follows Walt Disney's attempts to promote the use of the blockchain, cryptocurrency, and metaverse spaces.

Also Read: Here's Why This Analyst Says Bitcoin Is Heading Below $14,000

Walt Disney CEO's metaverse foray

In November 2021, Bob Chapek, CEO of Walt Disney, discussed the company's plans to combine physical and digital assets in the metaverse during the company's fourth-quarter earnings call.

Walt Disney indicated in a patent application that the platform's potential entry into the metaverse might entail users utilizing their mobile devices to create and display customized three-dimensional (3D) projections onto real-world spaces like walls and other objects.

The corporation reported that it is focused on augmented reality (AR), non-fiber technologies (NFTs), and artificial intelligence (AI) earlier this year in its 2022 Disney Accelerator Program, which chose six businesses to make use of its business development platform.

Additionally, the list of firms includes layer-2 scaling platform Polygon MATIC/USD and Web 3.0 initiatives including Lockerverse, a Web 3.0 narrative platform, and Flickplay, a Web 3.0 application that enables users to discover NFTs using augmented reality (AR).

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