How Disney Will Utilize Blockchain, NFT, and the Metaverse

How Disney Will Utilize Blockchain, NFT, and the Metaverse

Blockchain News
December 7, 2022 by Diana Ambolis
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Only organizations specializing in Web 3, Metaverse, e-commerce, or blockchain technology have participated in this year’s Disney Accelerator. Disney is the most recent well-known company to use its vast resources and experience to bring the new digital frontier to life. Disney is among the several firms that have lately begun investing in Web3 and the
4 Major Difference Between WEB3 and METAVERSE

Only organizations specializing in Web 3, Metaverse, e-commerce, or blockchain technology have participated in this year’s Disney Accelerator.

Disney is the most recent well-known company to use its vast resources and experience to bring the new digital frontier to life. Disney is among the several firms that have lately begun investing in Web3 and the Metaverse. Web3, the convergence of technologies such as 3D virtual worlds, augmented reality, virtual reality, and blockchain, promises to offer new services and venues that will provide fascinating experiences for the average consumer and substantial opportunities for entrepreneurs and investors. Disney’s Accelerator Program might give a boost in this respect.

Disney is the most recent well-known company to use its vast resources and experience to bring the new digital frontier to life. Disney is among the several firms that have lately begun investing in Web3 and the Metaverse. Web3, the convergence of technologies such as 3D virtual worlds, augmented reality, virtual reality, and blockchain, promises to offer new services and venues that will provide fascinating experiences for the average consumer and substantial opportunities for entrepreneurs and investors. Disney’s Accelerator Program might give a boost in this respect.

As part of its Disney Accelerator program, an annual investment and consulting effort that supports technologically innovative enterprises, Disney is focusing on Web3 and the Metaverse this year. The initiative focuses on entertainment technology and provides:

  • Investment funding.
  • Access to co-working space at Disney’s Los Angeles campus.
  • Guidance from Disney’s top executives and business professionals in the entertainment and technology sectors.

It occurs yearly throughout the summer and concludes in October with a demonstration. Epic Games, which created Unreal Engine and Fortnite, and Hanson Robotics, which specializes in human face animatronics, are two well-known companies that have participated in the Disney Accelerator program. These two businesses have received money from Disney.

Disney released an official press statement announcing the six firms chosen to participate in this year’s Disney Accelerator. These firms are associated in some form with Web3, the internet, and the Metaverse, covering augmented reality, artificial intelligence, gaming non-fungible tokens, virtual commerce, and blockchain technology.

Disney has been an integral component of the entertainment business for almost a century, and the corporation recognizes Web3’s long-term potential. Although this is not the first time Disney has shown interest in Web3 and the Metaverse, the firm has so far refrained from taking meaningful measures toward its development. Any business may make tremendous progress toward its objectives by participating in Disney’s Accelerator program.

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The next generation is Web 3.0

Click play, Inworld, Lockerverse, Obsess, and Polygon are the names of the six firms chosen to participate in this year’s Disney Accelerator program. Each of these businesses is a technical enterprise that works in many Web3 and Metaverse frontier sectors. They range from start-ups still in the “growing stage” to established technology companies with contracts with the United States Air Force, but they are all engaged in developing Web3-related technologies. None of the companies specializes in the same things; instead, they each focus on a distinct feature or part of the Web3 experience.

Flickplay is an augmented reality (AR) company that focuses on non-fungible tokens (also known as “Flicks”) that its users may find or obtain by using augmented reality while out in the world. Users of Inworld’s software can create AI-driven characters for use in gaming, the Metaverse, and commercial applications that can interact with one another and produce their dialogue. Obsess is a B2B technology that allows businesses to build virtual retail stores, providing consumers with a new and pleasant purchasing experience. Polygon is an Ethereum network blockchain and Web3 scalability solution.

Compared to Ethereum’s main net, Polygon provides faster transaction speeds and much lower transaction fees. Although Lockerverse is described as a “Web3 platform that enables artists and organisations to create culture-defining stories and give unique access and experiences,” we could not uncover any more information about the firm or its website. Red6 is the corporation responsible for developing the Airborne Tactical Augmented Reality System (ATARS). ATARS is a sophisticated headgear and augmented reality interface designed for the United States Air Force primarily for training new pilots.

Given the enormous number of technology companies participating in the Disney Accelerator program this year, it is fair to anticipate that Web3 will see even more innovation and development shortly. If everything goes according to plan, retail stores in the Metaverse, AR/VR products, and Web3/NFT gaming might all become more engaging, immersive, and accessible. In addition, they might deliver brand-new experiences and entertainment geared toward a family-friendly audience. Nothing is more effective in promoting adoption than children pestering their parents to buy them new toys. Disney is superior to other entertainment companies in making this a pleasurable experience for all parties involved.