Disney Pinnacle Is a New NFT Marketplace Powered by Dapper Labs
by Oskar Trotman
The iconic American mass media and entertainment conglomerate Disney will launch its new NFT platform, Disney Pinnacle, by the end of 2023. The project is a collaboration with Dapper Labs. The platform will enable collectors to buy and trade digital ‘pins’ based on popular characters from Walt Disney Animation Studios, Star Wars, and Pixar movies and cartoons.
The official announcement from Disney did not mention the inclusion of Marvel characters into the project, which is curious since this comic book brand is also part of the Disney portfolio. Every NFT pin will be minted on the Flow blockchain and consist of a Disney character animation or illustration, with some NFTs offering interactions in the form of video projections. The mobile app will be available on Google Play and Apple App Store.
Designed as an inclusive app, this platform will accept payments via bank cards, cryptocurrencies, and ACH bank transfers. Currently, only a waitlist and an official web page are provided, with the app entering a testing phase.
Interactive Social Experience
The century-old company has a loyal following globally and a rich library of endearing characters. Millions of fans collect the theme parks’ signature pins, and the new platform will enable fans to create personalized NFTs modeled on their favorite heroes and villains by simply using their smartphones.
The primary goal of the Disney Pinnacle project is to foster an interactive and thrilling experience for fans. Aside from collecting NFT pins, the platform will facilitate social connections among fans, and collections will be able to acquire unique pins by participating in special quests and challenges.
Disney Is Not Giving Up on NTFs
The Disney Pinnacle will not be the first initiative by the popular Hollywood studio to enter the NFT market. At the start of the year, Disney released a limited edition of NTF Star Wars toys. However, Disney has also curtailed its metaverse activities by closing its dedicated metaverse division in March. The metaverse was tasked with developing initiatives for merging physical and digital worlds.
The new partnership with Dapper Labs is a sign of hope that the entertainment giant is not giving up totally on digital assets and is using the expertise of the Vancouver-based blockchain firm to create a new Web3 app to meet emerging trends and appeal to a new generation of fans.
Dapper Labs built its reputation via sports collectibles, including NBA Top Shot, a platform that allows fans to trade tokenized snapshots of NBA replay footage. Top Shot is not the only successful product of Dapper Labs, and Disney Pinnacle can be a new triumphant chapter in the relatively young history of the Canadian company.
There are parallels between Top Shot and Disney Pinnacle, mainly that both platforms benefit from an established global user base, eager to fuel their passion and interact with other fans. Disney Pinnacle has the potential to revitalize the unstable NFT market, considering a renowned brand is backing the project.