Disney is Set to Hire an Attorney for Blockchain and Emerging Technologies
- Entertainment company, Disney, has identified the metaverse as one of its priorities.
- According to the job posting on Disney’s website, the candidate will help the organization comply with both local and global policies.
Entertainment giant Walt Disney Company, DIS, is looking to engage an experienced corporate attorney to work on developing technologies like non-fungible tokens (NFTs) and the metaverse. This move seems to reaffirm the company’s interest in Web3.
According to a job posting on the company’s careers website, the organization is looking for a “Principal Counsel – Corporate Transactions, Emerging Technologies & NFTs” to work on operations including, among other things, NFTs, the metaverse, blockchain, and decentralized finance (DeFi).
In addition to ensuring compliance with current U.S.-based norms and regulations and global policies, the popular entertainment giant is looking for a candidate to provide product life cycle legal counsel and assistance for all NFT products.
Other responsibilities for the candidate include performing “due diligence for NFT, blockchain, third-party marketplace, and cloud provider projects,” directing Disney’s efforts in emerging technologies, and regularly offering legal counsel on issues pertaining to cryptocurrencies and digital currencies.
The search for an attorney aligns with Disney’s ambitions to advance the use of cryptocurrencies, blockchain technology, and metaverse ecosystems. The company has long expressed its desire to increase its influence in emerging industries such as blockchain.
In 2021, during its fourth-quarter earnings call, Bob Chapek, CEO of Walt Disney, confirmed the company’s plans to merge physical and digital assets in the metaverse. Disney later submitted a patent application for a “virtual-world simulator,” which was a possible theme-park metaverse.
According to the patent application, the company’s potential entry into the Metaverse might involve guests using their mobile devices to create and project customized 3D effects onto nearby physical areas, including walls and other surfaces.
Since making its intentions known late last year, Disney has not made any major moves related to its metaverse ambitions. However, the recent job posting could indicate that the company is set to move on with its plans.
Disney joins other global corporations like Facebook to identify the metaverse as a priority. Tech giant Mark Zuckerberg has continuously splashed funds into the metaverse and even changed the company’s name to Meta in 2021 as a sign of his commitment to the industry.
Despite incurring losses, Meta’s metaverse division remains focused on its long-term plans for the industry. The company’s CEO, Zuckerberg, reaffirmed his interest in the metaverse, noting that “we’re focused on making a long-term investment that will position us to come out stronger.”
However, Zuckerberg admitted that the ongoing loss might persist for a while as VR applications and other virtual technologies are yet to reach the point where they can take advantage of the opportunities in the metaverse. He said at the time,
The Metaverse is a massive opportunity for a number of reasons. I feel even more strongly now that developing these platforms will unlock hundreds of billions of dollars if not, trillions over time. This is obviously a very expensive undertaking over the next several years. I’m confident that we’re going to be glad that we played an important role in building this.
Although other experts have heavily criticized Meta’s approach, the company remains focused on its ambition.