Disney CEO Bob Chapek, back in November 2021, said he’s making the necessary preparations to enable the company to combine its physical and digital assets into the digital realm.
In their quarterly earnings call last year, Chapek said that for a long time, the company has always been at the forefront of adopting emerging technologies that can enable it to enhance its entertainment offering.
During that time, the CEO said all efforts they have done were just merely opening acts for the time when they are able to combine their physical and digital world for “storytelling without boundaries” on their “own Disney metaverse.”
Chapek, and Disney, appear to be motivated by the idea that tech and entertainment companies are slowly shifting their focus on augmented virtual reality into the metaverse.
Expanding Into The Web3 Space
The entertainment giant’s journey towards expansion in the Web3 space became clearer with a recent job posting for the company.
Disney is currently looking to hire a Principal Counsel to oversee transactions that involve non-fungible tokens, blockchain technologies, decentralized finance (DeFi) and metaverse, among other upcoming offerings.
Among the principal responsibilities of the Disney lawyer is to make sure the company is able to comply with U.S. and global regulations to avoid any legal liability once the company rolls out its expansion plans in the virtual land.
Disney Going All In On Web3
In December last year, the company forged a partnership with upcoming NFT mo
bile application VeVe in rolling out a number of NFT collections.
Former CEO Robert Iger said the possibilities for NFT, considering Disney’s copyright and trademark as well as characters, are “extraordinary.”
With that being said, the entertainment firm is out to get the best counsel there is to strengthen its bid in Web3 dominance.
Applicants that could be considered for the position are those who have five to eight years of experience under their belt, particularly in managing complex transactions.
Moreover, the attorney must come from a large, multi-national firm that boasts corporate practice that meet international standards.