Of all Walt Disney's millions of fans globally, those that collect and trade the Hollywood studio and theme park operator's signature pins may be among the company's most loyal consumers.
Hoping to leverage some of that established enthusiasm, NBA Top Shot creator Dapper Labs has announced that is licensing Disney intellectual property in order to a launch a "digital pin" platform that will provide collectors a chance to purchase and trade branded NFTs minted on the Flow blockchain.
Dubbed Disney Pinnacle, the initiative seeks to become a "socially driven collectible experience that brings the magic of pin collecting to the digital age," the companies said in a release posted to Dapper Labs' website. "Disney Pinnacle will bring together characters from 100 years of Disney, along with beloved icons from Pixar as well as heroes and villains from the Star Wars galaxy, uniquely styled as collectible and tradable digital pins."
This is not the only time a company has sought to sell digital products using Disney brands as a hook. Earlier this year, a series of limited-edition NFT Star Wars toys were released in partnership with Cryptoys, which counts Dapper Labs was one of its investors. The digital toys cost $39.99.
Launching on the App Store
Dapper Labs CEO Roham Gharegozlou said that the creation of the platform has been informed by lessons learned in recent years. The company was at one time a darling of the web3 world after the meteoric success of NBA Top Shot, the NFT trading card collection that generated more than $200 million in monthly trading in early 2021.
“Disney Pinnacle is an all-new product designed from the ground up to incorporate everything we’ve learned over the past few years,” Gharegozlou said in a statement. “Fans anywhere will be able to collect dynamic pins on their phone and trade instantly and securely with each other no matter where they are in the world.”
The company said the Disney Pinnacle platform will launch on Apple's App Store by the end of this year.
© 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.