The Walt Disney Company is looking to onboard a transaction lawyer as it intensifies its plans to journey into the Web3 and NFT spaces.
The Walt Disney Company is hiring a transaction lawyer as it seeks to intensify its entry plans into the Web3 and NFT spaces. The ad, which the company posted on LinkedIn, explicitly states that it is “seeking an experienced corporate attorney to work on transactions involving emerging technologies, including NFTs, blockchain, Metaverse, and decentralized finance (DeFi).”
According to the job post, the transaction lawyer will work at an “accelerated and aggressive timeline” and “partner with business teams as they plan new global emerging technology projects.” The full-time, mid-senior level position will also require someone to assist in “performing due diligence for NFT, blockchain, third-party marketplace and cloud provider projects, and negotiating and drafting complex agreements for those projects.”
Provide full product life cycle legal advice and support for global NFT products, working in close collaboration with other Disney attorneys and business stakeholders, including Disney Media and Entertainment Distribution and Disney Parks, Experiences and Products. Ensure NFT product compliance with applicable U.S. and international laws and regulations.
Assist in performing due diligence for NFT, blockchain, third-party marketplace, and cloud provider projects and negotiating and drafting complex agreements for those projects.
Provide day-to-day legal advice to Disney legal and business teams on NFT and cryptocurrency-related matters and issues, including reviewing marketing and advertising disclosures and evaluating securities law issues in connection with the promotion and sale of NFTs.Some other projected responsibilities of the transaction lawyer.
The job post was published on LinkedIn this past Saturday morning. It is a further testament to the Walt Disney Company’s seriousness in exploring the Metaverse, which started in the first half of this year.
Disney’s Journey into the Metaverse
A company as big and influential as Disney has nowhere to go but up, which is why it needs to stay ahead of the current trends. And in an impassioned speech at Disney’s D23 Expo fan convention, the company’s Chief Executive Officer Bob Chapek declared that the company is exploring and developing plans for the Metaverse.
According to Chapek, by planning the company’s future, it is practically setting standards for its competitors. The 98-year-old company began planning its future when it quietly started exploring its entry into the Web3 space.
Then, earlier this year, the Mickey Mouse conglomerate hired Mike White to lead the newly-formed Next Generation Storytelling and Consumer Experiences unit. It also hired Mark Bozon for its Metaverse creative strategy (Next Generation Storytelling Creative Experiences). Incidentally, Bozon spent 12 years working at tech giant Apple before jumping ship to Disney.
Summarizing its Web3 movements, Chapek said in an interview immediately following the D23 Expo, “Disney is absolutely a lifestyle. The question is, how is our next-gen storytelling leveraging what we know about a guest uniquely in this Disney lifestyle, then serving unique experiences.”
Disney’s Entry into Web3
Ironically, the Walt Disney Company is not too keen on using the term “Metaverse” openly. Disney would rather describe its version of the Metaverse as “next generation storytelling,” as evidenced by the name of its newly formed units.
“We call it next-gen storytelling,” Chapek said in a backstage interview at the D23 Expo in Anaheim. “We tend not to use the M[etaverse] word too often because it has a lot of hair on it.”
According to Chapek, Disney’s entry into the Web3 and Metaverse spaces will require using data from the physical and digital worlds to enforce its Metaverse policy. The company is also considering using data from theme park visits and consumer streaming habits for its Metaverse strategy.
The company had already given a foreglimpse of its journey into the Web3 space when it dropped the Walt and Micker “Partners” NFT on the VeVe app last year. It also launched the “Golden Moments” NFT series on VeVe, including Spiderman, Mickey Mouse, Marvel, and Pixar collections.
It goes without saying that Disney’s foray into the Web3, Metaverse, and NFT spaces would bring with it complex business dealings and, perhaps, merger and acquisition deals later on. Hence, it’s understandable that the company would want to hire a transaction lawyer to become part of its legal department within its corporate transaction unit.
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