Disney DIS recently announced its partnership with Dapper Labs to unveil a Non-Fungible Token (NFT) platform known as Disney Pinnacle. This platform is designed to tokenize DIS' timeless animated characters, along with figures from Pixar and the Star Wars universe. These characters will be transformed into collectible and tradeable digital pins on the NFT marketplace.Scheduled to launch later this year, Disney Pinnacle's goal is to enable fans worldwide to collect dynamic pins on their mobile devices and securely trade them with others globally. The platform is built on the layer-1 blockchain Flow developed by Dapper Labs. This platform will be available on the Apple App Store for iOS, Google Play Store for Android and the web.Following DIS' restructuring initiative earlier this year, where the company discontinued its metaverse division as a cost-cutting measure, there has been a strategic shift. Despite closing the metaverse division, Disney is now actively entering into the NFT space with its collaboration with Dapper Labs. This is expected to aid the company’s top-line growth in the upcoming quarters.
