Disney Entering Web 3.0: The Big Fish Are Gearing Up

We are starting to see the big fish gearing up. There are moves in preparation of entering this space. Web 3.0 is about to take off. The only question is how it will look?

The latest company to openly mention its interest is Disney.

This is huge since it is one of the best known brands in the world. The entertainment conglomerate has impacted most generations on the planet today. Between movies, theme parks, stuffed animals, and an assortment of other products, the company has a following that is worth billions.

For this reason, when it says it is doing something, we should pay attention.

Many are starting to theorize what Disney is going to do since they posted a job expressing an interest in a lawyer who could help the company expand further into the digital realm.

According to a job listing posted to the Disney careers website on September 23, the company wants to appoint a “Principal Counsel - Corporate Transactions, Emerging Technologies & NFTs” to work on transactions involving NFTs, the Metaverse, blockchain and decentralized finance (DeFi) suggesting that the company might soon enter the Metaverse.

Source

The company is making it clear what it is looking at. Basically, much of what is discussed about Web 3.0 is being targeted with this listing.

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Source

Web 3.0 or Web 2.5?

Whether this is truly Web 3.0 remains to be seen. Certainly, one of the parameters of that evolution is the use of decentralized databases. This is obviously something that Disney, along with most corporation are not accustomed to utilizing. Data control is imperative, a way to leverage their intellectual property for monetary gain.

This takes on a different meaning with Web 3.0. The question is how these companies will join in the expansion or try to create something they control?

From the posting, it appears that Disney's interest in Decentralized Finance (DeFi) is at least promising. This could be taken as the company is seeking to integrate some of the Web 3.0 platforms (either built or under construction) into their ecosystem.

Of course, only time will tell how this turns out. The devil, as they say, is in the details.

The interest in NFTs (non-fungible tokens) is also intriguing. Obviously, Disney could produce an assortment since they have so many trademarked characters. Since these tend to be very popular, even among adults, there could be a phenomenal opportunity for the company.

For this to truly become Web 3.0, however, the NFTs would have to be available on open markets and downloaded to a wallet with a private key. If Disney puts the NFTs for sale on its website along with the asset remaining there, we are looking at a similar proposition to what is already out there.

Another key characteristic of Web 3.0 is account ownership. By having to log into Disney's site, if that is what occurs, one loses that ability. The account is still under the domain of Disney.

Nevertheless, this is the start of a major player looking into what is being developed.

Social Layer

Disney does has an enormous opportunity in terms of bringing out its own token. Since this is one of the best known brands in the world, it could leverage this to generate an unparalleled social layer. In other words, Disney could bring out its own token that is used by the community. This would likely generate an economy that could be the size of many countries.

Here is where a vast amount of value is being lost. Most corporations provide monetary benefits in a couple ways. The first is for the employees of the company. These work and receive some type of compensation in the form of wages. There is obviously a direct trade off.

The second is in the financial markets. Disney, along with most other major corporations, operates in the equity and debt markets. People are able to buy these assets, in hopes of garnering a return.

Thus, we essentially have three layers: labor, debt, and equity.

One of the challenges is these are often in opposition to each other. The players in the different arena all have their own interests. Over the decades, there were moves to try and align them, with varying success.

Could Web 3.0 change this?

At worst, this is going to add another layer to the equation: social. Here we can see tokenization having a major impact. For an entity like Disney, they can generate a token that is distributed to their fans. This is a powerful incentive layer that can further strengthen the relationship with its customers.

Imagine if Disney offered $5 worth of tokens for each month's subscription to its streaming service. One could spend $10 or $12 on the channel yet get near half that back in tokens. This would cost Disney nothing yet get the distribution flowing.

It could also do something similar with its parks and hotels. Those who visit are rewarded with tokens.

The flip side, utility, is already built in. Obviously the company could accept them as payment for the different services provided. To entice the use, a discount could be provided, say 10% off. This currency could then be traded on open exchanges, tied to a blockchain that Disney does not control. It is a move that would place separate between the company and its token.

It would also allow others to create business around the Disney brand, furthering the use case of the token.

Here we see the ability for people to be rewarded simply for being fans of the company's content.

Of course, we can add a host of other ways people can get rewarded. Bounties could be placed for sharing about the different projects. Forums, chatrooms, and other means of social activity could see tokens paid out.

In short, the creativity of those associated with the project would expand the use cases.

Is This The Future?

There was a time, in our history, where equity in the form of a stock certificate was an absurd idea. This did not really emerge until the 1800s. Stock ownership really came into play with the development of the railroads in the United States. Money was raised from European aristocrats (the few who had money at the time). However, these people knew of one thing: land.

The idea was formed to entice these individuals to invest by giving them stock certificates, a way to have something tangible for their investment. This could be sold to others, passed along.

Hence, we saw the massive expansion of the idea of fractional ownership in an entity.

We could be embarking upon another development along similar lines. In a couple decades, the social layer could be as commonplace for major entities as the equity layer is today. There might be a time when the token value actually exceeds the equity layer. Imagine how much exists for companies such as Apple, Tesla, Disney, and professional sports teams.

With the adoption of the "attention economy", we could be at the onset of this very idea. Many of us feel we are going to see the tokenization of everything. This means corporations like Disney will be heavily involved.

After all, a social layer for a company of that nature is worth hundreds of billions of dollars.

This can be accomplished with cryptocurrency.


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Imagine if Disney offered $5 worth of tokens for each month's subscription to its streaming service. One could spend $10 or $12 on the channel yet get near half that back in tokens. This would cost Disney nothing yet get the distribution flowing.

Any company could do this. We will see which will be the first, if any, to offer tokens for subscriptions.

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It sure would be a good thing.

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I don’t agree at all. I think it’s insanity to praise a company like Disney getting in. NFT is being used as a catch phrase now. A corporate shill product being called an NFT isn’t good at all

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Let me rephrase this. It would be a good thing for mass adoption of the technology.

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We will see. It doesnt take a lot of creativity to realize what is possible.

These companies could open up an entirely new spectrum to themselves.

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Is a corporation like Disney really going to go for a decentralised platform? They are used to having control of all their assets and they have a bigger turnover than some countries. I wonder if we will see companies doing 'NFTs' to cash in on the buzzword, but they will do it on their own terms with complete control. Most buyers will probably not actually care.

I think there is still an issue with NFTs in that you are really just buying a certificate of ownership of something digital that can be infinitely copied. Unless it has some use in a game it is a bit ephemeral. Society is still adjusting to this concept. I dabble in the field as I find it fascinating, but I'm no big investor.

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It will be interesting to see how Disney goes about NFT, tapping on blockchain technology which decentralization appeals to some of us I wonder how Disney will adjust to not being in control.

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“ Is a corporation like Disney really going to go for a decentralised platform?”

Indeed they are not.

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Is a corporation like Disney really going to go for a decentralised platform?

This is probably unlikely and could end up being their downfall. It is akin to the banks believing they will not have to merge with DeFi. They can try to ignore the reality but it is still where things are heading.

As for NFTs, we are in the early stages. What we witnessed the last couple of years is akin to WebVan. It was the first iteration.

We are going to see a lot of innovation in that space also. Where it goes will be interesting.

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@taskmaster4450 Sr. Can I accumulates 10k Hive power on hive in one year its my goal please give some suggestions 🙏

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Get busy, get active, and fully commit. That is the only way to do it. Become a quality content producer and engage in as many places as you can.

That is the secret to success. No magic formula.

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I never knew you could be a publicly traded company and have your token as well... It doesn't make sense to me but neither did stocks in the early days, as you mentioned.

Regardless this is a very interesting development indeed.

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It’s just a centralized garbage product. It’s not anything that will help promote the #web3 space

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Why wouldn't you be able to do that? Equities carry with it ownership of the corporation and a right to the profits of the company.

Tokens carry none of that. Don't casinos hand out gaming tokens to entice people to the tables? How is it any different?

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NFTs make a lot of sense to me for Disney. More so than DeFi, but like you said, times are changing. I bet no one would have guessed that Radio Shack would be doing DeFi twenty years ago either. Heck, even five years ago! They were bankrupt and done!

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How are they doing DeFi?

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Check it out for yourself: https://www.radioshack.org/

Radio Shack Swap. Too bad they couldn't swap my worthless stock certificates with something that actually has some value. That might impress me more than a flashy webfront!

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I thought Radio Shack was gone.

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Not dead yet! Honestly, they were gone when they started focusing on cell phones versus the products that made them a household name. I was there during the downfall. It was sad.

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when a world giant like Disney focuses its interest on Web 3.0, something good is coming for everyone

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(Edited)

They aren’t though, there just using it as a catch phrase as are half the centralized podcasts and companies in the world today. Disney is a evil company. The cheering this is beyond lost on me.

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Yes, a GIANT player Disney would be for this space for sure.

And I don't know how much they would wanna be Decentralized, but it would prove to be a great move for them.

Thanks for this article, I enjoyed this one... gives us hope in the adoption of web 3.0

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I doubt they will decentralize the ownership of accounts or the assets.

And that will end up being their downfall. But they will bring a lot of exposure to the space.

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It's like the saying "even bad publicity is publicity".

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I'm thinking about this again... why would they tokenize things like prescriptions or jotel stays and things like that? It's sort of what they have going already with reward points, those can be spent within. And there was a time when they had disney dollars, I seem to remember... don't know if that's still a thing, you could only spend that money within disney.

I see the benefits, but will they?

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I see the benefits, but will they?

That is the big question.

Reward points are already a form of tokenization. However, what about those who do other things other than spend money? Bounties as an example. There are many ways a company can get creative. Plus, it is easier for people to move around tokens with wallets.

The big question is whether they want to build something all in house which limits the reach or will they make it larger by being tied to decentralized wallets and ecosystems?

We can presume these corporations, for the time being, will lean towards control.

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Like you it's the big question. Only time will tell!

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Oh, this is interesting news on the horizon. We shall see what becomes of it. Thanks for sharing!!

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If Disney puts the NFTs for sale on its website along with the asset remaining there, we are looking at a similar proposition to what is already out there.

By having to log into Disney's site, if that is what occurs, one loses that ability. The account is still under the domain of Disney.

This should serve as a warning not to buy into Disney's Web 3 thing if the usual practices will continue.

Disney could bring out its own token that is used by the community. This would likely generate an economy that could be the size of many countries.

Impressive with the way you describe some of the details of how such an economy might evolve.

This currency could then be traded on open exchanges, tied to a blockchain that Disney does not control.*** It is a move that would place separate between the company and its token.***

It would also allow others to create a business around the Disney brand, furthering the use case of the token.

If Disney will pursue such separation, that is something great!

With the adoption of the "attention economy", we could be at the onset of this very idea.

That is one thing I am grateful to Pi Network. This is the first blockchain that introduced to me this idea of attention market.

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Disney isn’t doing anything to promote web3 or crypto. It’s just jumping on the catchphrase. Disney will never do anything helpful in the space.

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This should serve as a warning not to buy into Disney's Web 3 thing if the usual practices will continue.

Without account ownership, people will learn the hard way of how they lack freedom. Many are seeing it in social media.

It will continue to spread.

Sign in with Hive is going to be important in the future.

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Not sure if people are just taking freedom for granted or if they are really clueless about how the system really works.

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I still don't think Disney going Web3 is the solution. It's not really going to help them that much when they are doing bad business decisions. However, I guess it does open up the market a bit more I guess.

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It’s the opposite of a solution. It’s a evil evil company and this has no repeat no benefit for our space.

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...this has no repeat no benefit for our space.

Are you serious? Of course it does. What is wrong with a bunch of centralized tokens (which you have already)? Of course, this is called the free market which gets lost on many, even though who talk about it.

Centralized verses decentralized tokens...the users will decide.

And for corporations, Spliterlands is just that yet their assets are owned outside their platform.

Users decide how much they want to interact with the game and how much to spend.

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this has no repeat no benefit for our space.

So write your elected representative and get them legally banned. That is the way to do it.

Enough with the bullshit. You have spend a number of comments espousing your anti-free market sentiment. Open source, decentralized, etc... means anyone can participate. That is the tenets of crypto.

If Disney or any other corporation want involved, let them. That is what the free market does. Let them compete with the decentralized systems that are being erected. If their subs want to get tokens for giving them money, good for those people.

We are going to see over the next few years how projects, regardless of what is behind them, will be hindered by being centralized.

Nevertheless, people will learn. They have to go through bad choices first before getting on the right path.

Many said the same thing about XRP years ago. Yet they spent the last 4 years fighting the SEC and, looking like, they are going to win. Will that help the industry? Yes. Are they as centralized as it gets? Yes. Is it a crypto? Not in my opinion.

But they were a major boom to crypt simply by taking on the Feds.

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Entertainment fits Web3 very well, and they are aware of this truth.

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Crony corrupt corporations like Disney certainly do not fit at all. This post is lost on me.

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This post is lost on me.

The free market is lost on you?

That is sad since giving users a choice is what it is all about.

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Didn’t mean to sound critical of you personally. My bad that came out wrong. I just mean these crony companies aren’t going to do a thing to help our community. Quite the opposite so it was just confusing to see the cheering on a post from you. My apologies for coming off so critical.

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It’s certainly a good thing Disney are evolving by looking towards delving to the new iteration of the internet. That being said , the issue of decentralization will always arise . One just wonders if a centralized body so to say as Disney will bend its rules .

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Serious? Couldn’t disagree more.

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It depends upon how they evolve their delving into this. As an adjunct to something controlled, then it will run into those assets that are not.

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(Edited)

Disney are a bunch of groomers 🤮
Seriously makes me question you that you think this is a good thing or relevant at all. Come on man is this a joke? Crony corporate company using catchphrases like NFT or Crypto or Web3 means nothing. Come on guys wake up.

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Seriously makes me question you that you think this is a good thing or relevant at all.

I dont engage in ideology or fantasy, that is how I can have insights.

Are corporations going to disappear? No
Is tokenization going away? No
Will companies look to take advantage of the social layer by tokenizing? Yes
Are they going to reward people with tokens? Yes

Disney is most likely going to bring out tokens/NFTs. It is hard to dispute it.

So it has two choices:

  • create something inhouse that is akin to a gaming token at Las Vegas casinos. It will have some value within the ecosystem but that it is. These tokens have no value outside at other casinos. That is what Disney could opt to create which will have some utility but not a ton of value overall.

  • they could create a token and provide the ability to own outside of Disney's platform. This would be wallets not tied to the company and assets that can be swapped, traded, or given away. In other words, the owner is free to do with as seen fit.

Those are the two choices. Which will Disney pursue? We can all believe they will lean towards door #1 which will help the Disney customers in part but really cut short the potential.

The phrases they use mean nothing because the actual words mean little at this point. It is like talking about the Metaverse, something that is many decades out. What is the truth is the actions they take. Disney can talk all it wants. How it develops its tokenization of the social layer is what will tell the entire story.

If they go the wrong way, they might learn a hard lesson in the long run as other entities embrace asset and account ownership along with off platform access.

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