Is Disney Stepping Into Cryptoverse – Based On The Recent Events, There Is a Huge Possibility Of This Happening

Disney is stepping into Cryptoverse. As the entertainment company has been working with blockchains, NFT, web3, AR, and AI firms in its accelerator program. This could be a possibility to enter into the Crypto world. Let’s know more about Disney’s Accelerator program and firms that are part of this initiative.

As the Crypto market is bearish continuously. The big brands are still entering the market in different domains. For example, the Multinational retail corporation, Walmart entered in new Era of Virtual reality on the occasion of Halloween season using the online gaming platform ROADBLOCK.

To know more about Walmart’s metaverse initiative please read “Walmart is entering Meta-verse – Let’s see its features and their impact”

Last week, the well-known fashion brand Gucci launched its virtual world in The Sandbox. Other brands have also entered the web3 space in recent times such as Nike, Samsung, Coca-Cola, Adidas, etc.

Now, Disney is joining the Metaverse game. Disney has included several blockchains, NFT, web3, AR, and AI firms in its accelerator program.  All of this only leads to the possibility of Disney joining the Crypto verse.

So what is this so hyped Disney Accelerator program?

The Disney Accelerator program is an initiative created to promote the growth of innovative technology platforms. According to Disney’s website, the program helps “venture-backed, growth-stage start-ups” to make a powerful impact “on the future of technology and entertainment.” Also, it provides participating companies the investment capital and guidance from top entrepreneurs, investors, and business leaders from the tech and entertainment industry.

Signs that Disney may opt for Web3 –

On July 2022, Disney made headlines after selecting Polygon (MATIC) a layer-2 blockchain developed for its accelerator program.

This indicates that Disney and Polygon may also work together to develop blockchain-based assets such as NFTs. Polygon could also step forward to integrate crypto assets into Disney’s payment systems. From both perspectives, we can see the possibility of Disney venturing into the web3 space. Especially when we consider the other firms participating in the accelerator program.

For example, the program also includes an NFT-based social platform called Flickplay. There is also Inworld, a platform that enables its users to create AI-powered virtual characters. Continuing to the list we also have Lockerverse, a South American start-up helping digital creators and brands tell stories using web3. in the end, we also have Obsess and Red 6. Obsess is an innovative e-commerce platform that helps brands create immersive 3D virtual stores, while the Red 6 has patented AR technology for outdoor high-performance required environments.

Concluding the list, Disney has everything it needs to develop a digital world-like metaverse of its own. However, the company hasn’t made any announcements yet about any virtual reality platform. But it has filed for a metaverse-themed technology patent to create Disney personalized interactive attractions for its theme park visitors. While announcing the initiative at the D23 Expo, the Company CEO Bob Chapek avoided the word Metaverse but referred to the project as next-generation storytelling.