Entertainment giant Disney is pushing further into metaverse and NFTs. The recent job post indicates that the company wants to recruit a principal counsel specializing in the metaverse, NFTs, decentralized finance, and blockchain technologies. The appointed counsel will guide Disney through its push into Web3.
Some of the roles in the job post state that the attorney will offer legal advice for NFT products created by Disney Media and Entertainment Distribution and in conjunction with Disney Parks and Products. In addition, the attorney will principally provide legal advice on crypto-related issues to Disney business and legal teams.
Disney Hires More NFT and Crypto Experts to Escalate Its Web3 Efforts
The attorney roles show that Disney is intensifying its efforts to have a significant Web3 presence. In February 2022, the company hired Mike White, a technology executive, as head of Next Generation Storytelling and Consumer Experiences. The division is purposed to fuel Disney’s push in the metaverse.
Since then, Disney has tapped several NFT specialists to realize its Web3 ambitions. The current principal counsel search indicates that the company could be seeking to explore not just NFTs but also decentralized finance and digital currency ecosystems. The job description shows the possible development of these innovations as soon as possible.
Recent Job Post Shows Disney’s Sensitivity to Regulatory issues.
The hiring of an attorney is an indication of Disney’s commitment to follow the stipulated regulations regarding the Web3 and crypto industry. It comes after the recent increasing regulatory and legal pressures on crypto companies. Per the job description, the attorney will evaluate all securities law matters that affect the promotion and sale of NFTs.
Recently, the question of which digital assets regulators treat as securities and thus subject to further harsh regulations has reached the boiling point. Last week, the United States Securities and Exchange Commission claimed that the whole Ethereum blockchain should be considered a securities exchange in America.
In addition, after the Securities and Exchange Commission claims, a leaked Market in Crypto Assets draft bill regulating crypto in the European Union revealed that Europe’s regulators could start treating blue-chip NFT collections like Bored Ape Yacht Club as securities. The law is effective from 2024.
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