On November 14th, the world’s largest entertainment conglomerate, Disney, valued at $159 billion, officially announced a partnership with Dapper Labs, the blockchain developer behind Flow, to launch an NFT trading platform called Disney Pinnacle.
Disney Pinnacle, designed to offer a social experience, allows fans to collect and trade digital characters from Disney’s vast entertainment universe. It also promises to be a globally secure trading environment. Disney Pinnacle will also store intellectual property assets from Lucasfilm, Pixar, and Walt Disney Animation Studios. This means iconic Disney characters like Woody and Buzz Lightyear from “Toy Story,” Snow White, as well as characters from the Star Wars and MCU franchises, can appear in Disney Pinnacle as tradable NFT digital assets.
Notably, each item collected within collections will have its own unique journey, allowing collectors to personalize them easily from their mobile devices.
“Disney Pinnacle is an entirely new product designed from the ground up, integrating everything we’ve accumulated over the years.” — Roham Gharegozlou, CEO and Co-founder of Dapper Labs
The first trial version of Disney Pinnacle was announced on November 14th, 2023, but it was exclusively for users on a waitlist for testing and feedback purposes. The official version is expected to launch later this year on both IOS and Android platforms, through Apple Store and Google Play Store.
Despite Disney’s staff reductions in the Metaverse department and Dapper Labs laying off 22% of its workforce amid the NFT market downturn, the collaboration between Disney and Dapper Labs highlights the increasing interest of major brands in the NFT space. Moreover, it creates the potential for mass adoption of NFTs, given Disney’s massive global fanbase.
Dapper Labs has positioned itself as one of the most successful companies in the NFT space through various initiatives. Notably, “NBA Top Shot Moments,” an NFT collection featuring significant moments in basketball, achieved a valuation of $7.6 billion through Dapper Labs’ partnership with the NBA. Additionally, the company has received support from Google to bolster the Flow blockchain.