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Disney Pushes Further Into Crypto, DeFi, NFTs With Recent Job Post

Disney Pushes Further Into Crypto, DeFi, NFTs With Recent Job Post

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Disney dives deeper into NFT and the metaverse.

The entertainment giant plans to hire a lead director specializing in NFT, metaverse, blockchain technologies and decentralized finance to guide the company through its upcoming – and aggressively – Web3-looking work.

Friday job announcement the position explains that the attorney primarily provides “legal advice and support for global NFT products” made in partnership with Disney Media and Entertainment Distribution and Disney Parks, Experiences and Products.

In addition, the general counsel will “provide day-to-day legal advice to Disney’s legal and corporate teams on NFT and cryptocurrency issues and issues” and “provide thought leadership and strategic direction on products involving digital currency and blockchain technology.”

Such details show that Disney is doubling down on its commitment to a strong Web3 presence, months after the company’s CEO Bob Chapek. described the metaverse “as the next great storytelling frontier”.

After the NFT experiment in 2021Disney in February CTO Mike White as head of Next Generation Storytelling and Consumer Experiences, a division that is said to lead Disney’s efforts in the metaverse.

Since then, the company has been involved several NFT expertsand even nabbed several crypto companies for its accelerator program, but precise details of Disney’s Web3 goals have remained elusive.

Friday’s CEO post reveals that the company may want to experiment not only with NFTs and metaversal ecosystems, but also with digital currency and decentralized finance mechanisms. The job description indicates that these innovations will likely be developed and deployed on an “accelerated and aggressive timeline.”

The hiring also signals Disney’s sensitivity to mounting legal and regulatory pressure currently facing crypto and the NFT space. Disney’s NFT legal czar will focus specifically on evaluating “securities law issues” related to the “promotion and sale of NFTs,” according to the job posting.

The question of what digital assets government bodies consider to be securities and therefore more strictly scrutinized and regulated has come up in recent weeks.

Last week, the SEC in the United States claimed at trial that the entire Ethereum ecosystem should be considered an American stock exchange. Days later, leaked the final draft of the European Union’s landmark MiCA encryption regulation announced that a European governing body could soon regulate blue-chip NFT collections like Bored Ape Yacht Club and Cryptopunks as securities.

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