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NFT Opportunity for Disney ‘Extraordinary’: How Bob Iger’s Return Could Power Web3’s Growth – Walt Disney (NYSE:DIS)

NFT Opportunity for Disney 'Extraordinary': How Bob Iger's Return Could Power Web3's Growth - Walt Disney (NYSE:DIS)

With the recent struggle for The Walt Disney Company DIS, the former CEO is invited to help guide the company forward. Could the next phase of growth include a deeper connection to the Web3 world?

What happened: Disney announced on Sunday that the CEO Bob Chapek resigned and was immediately replaced Bob Iger, who previously served as CEO of the company for 15 years.

The introduction of Iger as CEO could help the company improve several issues, including relationships with theme park goers, not raising prices on Disney+ as often, and making amends with the Florida governor. Ron DeSantis.

Another area of ​​growth that could be in the spotlight is Disney’s push for Web3.

Iger has been a strong supporter of the Metaverse, NFTs, and Web3 in general.

After stepping down as chairman of Disney, Iger joined the Disney board of directors. Jinn, a company associated with the metaverse. Iger has also invested in Genies.

“I was particularly interested in companies that used technology for disruptive purposes, and where possible, the intersection of technology and creativity,” Eiger said at the time.

Iger explained that he was drawn to Genies because of the ability for users to create and sell their own virtual goods. Genies collaborates with Universal Music Group as well as Warner Music Group Corporation WMG and hired musicians, including Justin Bieber, Rihanna as well as Cardi B to the platform.

“Imagine, you know, letting someone buy a Mickey Mouse avatar and customize it in a way that not only would we never have allowed it before, but it was pretty hard to do in the physical world,” Iger said.

Genies offers tools that allow users to create avatars, digital clothing, and operates an NFT marketplace where users can sell their creations. Jeans use Flow FLOW/USD USA The blockchain is owned by Dapper Labs, the company behind NBA Top Shot and NFL All Day.

Along with Eiger, Genies investors include Bond Capital, Dapper Labs as well as Coinbase Venturesinvestment division Coinbase Global Inc. COIN. celebrities including Priyanka Chopra, Camila Cabello as well as Paris Hilton are also Genies investors.

In addition to joining Genies and investing in the company, Iger has been vocal about the huge opportunities a company like Disney can have in the NFT space and the metaverse.

“When you think about all the copyrights and trademarks, Disney characters and NFT opportunities, they are extraordinary,” Iger said earlier.

Iger added that there could be an “explosion of things” in the future that will be created, sold and assembled in the NFT world.

“They can be digital and they make a difference to people.”

Capek has also previously hinted at Disney’s potential in the metaverse.

“We believe the opportunities for The Walt Disney Company go well beyond these channels. This extends to sports betting, gaming, and the metaverse,” Chapek said earlier this year, citing the capabilities of the metaverse as a priority for the company.

Related Link: Former Disney CEO Bob Iger Acquires Stake in Canva

Why is it important: Disney, one of the largest and most recognizable brand companies in the world, has slowly adapted to the world of the metaverse and NFTs.

The company partners with a digital collecting platform veve to launch NFT characters from Star Wars, Marvel and Pixar. Outside of this partnership, the company has been relatively quiet in the NFT space.

Previously, there were rumors that Disney could acquire an NFT company like Dapper Labs, which could create synergies with its ESPN and sports-related NFT sports properties.

Earlier this year, Benzinga revealed that Disney had several job postings that mentioned NFTs.

Iger talked about the huge opportunities that Disney had in the metaverse and NFT even after he left the company. Now that Iger is back at the helm of Disney, he could pave the way for Disney’s Web3.

While Iger’s return to the company could be good for Disney’s consumer-facing and theme park business, the fact that the move could also propel Disney forward in the fast-growing Web3 world should not be underestimated.

Known for major acquisitions such as Pixar, Marvel and Star Wars parent company Lucasfilm, Iger transformed Disney by acknowledging brands that could help grow the company. Acquisitions in the NFT and Web3 space should not be out of the question for Disney to take a strong position in the sector.

DIS price action: Shares of Disney rose 8% to $99.92 from a 52-week range of $86.28 to $160.32.

Read next: Bob Iger Regrest Hires Bob Chapek as Disney CEO Successor and Calls It One of His Worst Business Decisions

Photo: Courtesy of Thomas Hawke on flickr

Written by khirou

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