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TL;DR
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Legacy companies have a leg up when entering the NFT space, because they have established brands and consumer bases.
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And we’re finally seeing this opportunity being capitalized on by the kings of ‘intellectual property monetization’: Disney.
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Disney will launch its own NFT platform to sell collectible digital pins.
Full Story
We’ve said it before but it bears repeating:
The greatest opportunities in the NFT space aren’t in the hands of Web3 native businesses, but those of legacy companies.
Sounds counter-intuitive, right?
See, cause legacy companies have established brands, they can skip the arduous process of brand building, and simply sell NFTs their consumer base.
E.g. Instead of creating a new NFT-based collectible card game, the Pokemon Company could just digitize its existing card game as NFTs.
(In the process, growing its user base by making its product easier to access, and opening a new recurring revenue channel via royalties).
In fact anywhere there’s an established collector base and secondary marketplace for a physical item, there’s an opportunity to digitize.
And we’re finally seeing this opportunity being capitalized on by the kings of ‘intellectual property monetization’: Disney.
Someone over at the house of mouse noticed folks were collecting/trading the physical pins (ft. Disney, Pixar and Star Wars characters) sold at Disney parks and decided to bring the collectibles to the digital world.
Which is cool and all, but what’s really exciting us is this:
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Disney has brand power, baaaby! (This is a big vote of confidence for blockchain technology).
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300M people p/y subscribe to its streaming services and visit its parks. (That’s a whooole bunch of new potential Web3 users.)
