Disney’s new CEO Bob Iger and crypto

A believer in the Metaverse’s promise. Bob Iger has startled the business community by stating that he would immediately resume his prior position as Disney’s CEO. Iger will succeed Bob Chapek, who has already submitted his retirement from his position.

Iger gained the most of his renown during his 15-year tenure as CEO of the international entertainment giant, which is perhaps his most notable accomplishment. However, the Disney executive rose to prominence in the cryptocurrency industry after joining Genies as a director, consultant, and investor. Genies is a blockchain technology development company. The Genies platform is a digital avatar system that is powered by Dapper Labs’ Flow blockchain.

Iger remarked that he was “thrilled to be joining the Genies Board of Directors” to help Akash Nigam and his colleagues in their aim to “empower individuals to construct the mobile apps of Web3: avatar ecosystems.” This was done in order to further the objective of “enabling anybody to create mobile apps for Web3.”

When Disney submitted its metaverse patent application on December 28, Iger was still serving as CEO and chairman of the board.

The patent was for a “virtual-world simulator in a real-world venue,” and according to the application, it would allow attendees at Disney theme parks to build and project personalised 3D effects onto adjacent actual locations, such as walls and other objects, using their mobile phones. The patent was for a “virtual world simulator in a real-world setting,” thus this would be doable. This objective might be accomplished using a technology known as a “virtual world simulator in a real-world situation.”

Disney said at the time that there were “no present intentions” to use the “virtual-world simulator” patent into any of its products. Moreover, the corporation has not yet announced any items related with the patent.

According to reports, Iger’s return to Disney will be brief, and he has only committed to staying in his capacity as Disney’s CEO for the next two years. This information was collected from The Hollywood Reporter.

It has been reported that during his new tenure as CEO, Iger would seek to choose a successor and work with the board of directors to determine the company’s strategic future.

Despite his absence during the course of the year, Disney has maintained its attempts to develop initiatives involving the metaverse, nonfungible tokens (NFTs), and blockchain technology. The completion of these endeavours is planned.

Disney began searching for a senior counsel in September in order to work on transactions involving non-fungible tokens (NFTs), the metaverse, blockchain technology, and decentralised finance. Disney is actively doing research on all of these subjects (DeFi).

They are looking for a specialised professional to give “complete product life cycle legal advise and assistance for global NFT goods” and to guarantee that the products in question conform with all applicable laws and regulations inside the United States and internationally.


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Disney Seeks Manager To Help Lead Company’s Efforts in the Non-Fungible Token (NFT) Space

Disney appears to be interested in jumping into the non-fungible token (NFT) space.

The entertainment giant is currently advertising for an open “business development” manager position.

The position requires “knowledge of and passion for Digital and NFT categories.”

Explains Disney,

“You will help lead Disney’s efforts in the NFT space including monitoring the evolving marketplace, setting category strategy, and managing key partners.”

The successful applicant will work at Disney’s Glendale, California office.

Disney isn’t the first major corporation to express interest in NFTs. Earlier this week, retail video game company GameStop announced a partnership with Ethereum layer-2 scaling solution Immutable X (IMX) to create a joint NFT marketplace.

In late December, retail giant Walmart filed a United States trademark application for an NFT marketplace that provides a platform for “buyers and sellers of downloadable digital goods authenticated by non-fungible tokens.”

Footwear giant Adidas announced earlier that month that it was partnering with premier NFT brands and influencers to explore the metaverse.

And Nike filed a trademark application in October for products involving “downloadable virtual goods… for use online and in online virtual worlds.”

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Going meta: Disney, Second Life and K-pop

Following the announcement that Facebook’s parent company would be rebranding in a shift towards the Metaverse, many projects have started similar initiatives entering the virtual space, from buying property to testing the limits of what this universe has to offer. 

Visit Disneyland… in the Metaverse?

The entertainment company behind some of the most popular theme parks in the world recently had a patent approved for a “virtual-world simulator in a real-world venue.” Though the Los Angeles Times reported that Disney had “no current plans” to use the simulator in the near future, the application does suggest Disneyland and Disney World guests may eventually see Metaverse attractions at one or more of the parks in the United States, Hong Kong, China, France and Japan.

Disney World in Orlando, Florida. Source: Pexels

The tech would work by tracking visitors using their mobile phones and generating and projecting personalized 3D effects onto nearby physical spaces, such as walls and other objects in the park. According to the patent application, Disney’s possible foray into the Metaverse could “provide users with realistic and highly immersive individualized 3D virtual experiences without requiring those users to wear an augmented reality AR viewing device.”

K-pop in the Metaverse?

On Monday, Metaverse concert organizer Animal Concerts announced it had inked a deal with South Korean unicorn Kakao’s Klaytn network as part of a plan to increase its exposure to the country’s entertainment industry. Animal Concerts CEO Colin Fitzpatrick said that “Klaytn’s major goals are NFTs and Metaverse.”

“Technical limitations prohibit how many people can actually attend a concert in the Metaverse,” said Fitzpatrick, referencing scalability issues. He aims to build a network of virtual venues across existing and new Metaverse platforms to host concerts with a variety of talent, seemingly including K-pop artists.

Second Life creator returns as project goes meta

Linden Lab, the company behind the virtual online world Second Life, announced on Thursday founder Philip Rosedale would be rejoining the project as a strategic adviser along with Metaverse team members of San Francisco-based VR company High Fidelity. According to the firm, the addition of the new and old talent would facilitate Second Life’s entry into the Metaverse.

“Virtual worlds don’t need to be dystopias,” said Rosedale. “Big Tech giving away VR headsets and building a metaverse on their ad-driven, behavior-modification platforms isn’t going to create a magical, single digital utopia for everyone.”

Launched in 2003, Second Life was one of the earliest virtual world experiences before the connectivity of modern social media platforms like Facebook, Twitter and Instagram. Rosedale departed as the CEO of Linden Labs in 2008 before going on to found High Fidelity in 2013. His return could mark a significant milestone for incorporating new Metaverse-themed ideas into established platforms: