Disney (NYSE: DIS) to Launch Its Own NFT Platform

The NFT trend shows no signs of slowing down. The Walt Disney Company, has teamed up with well-known developer Dapper Labs to introduce the Disney Pinnacle NFT platform.
This platform will feature digital collectibles based on icons stored on the Flow blockchain. The collection is set to include digital versions of souvenirs available in Disney theme parks, encompassing characters from “Toy Story,” “Star Wars,” “Mickey Mouse,” and various Disney princesses.

As a result, fans of Disney and Pixar animations can enrich their collections with tokenized versions of physical collectible pins. These NFTs will be available not just for buying and selling but also for exchanging with other collectors to acquire missing pieces. This platform will digitally assemble and display a century's worth of animated magic in one marketplace.

Designed primarily for mobile devices, Disney Pinnacle also has plans for a future desktop version. The app is slated for release in the App Store for iOS and Google Play Store for Android by the end of the year. The platform is prepared to welcome clients, having already launched a pre-order list. Users will be gradually introduced to the marketplace's features through test sales, although the date for the public release is yet to be determined.

Disney representatives have not disclosed specific details about the initial pricing of NFTs on the platform in response to subscriber queries. However, speculation suggests that the pricing will align with the current resale value of the physical pins on online auction sites, with actual prices likely influenced by market demand.

Dapper Labs, the developer behind the marketplace, is already renowned in the crypto community for creating the cult-favorite game CryptoKitties and NBA Top Shot – a platform for selling memorable NBA game moments as non-fungible tokens (NFTs).

Disney's venture into establishing its own NFT platform marks another step in its use of decentralized technologies. Previously, we've seen how the company brought its characters to life in virtual reality. For this purpose, Disney created its own Metaverse and released an NFT collection called “Golden Moments”, available for purchase in a virtual store on the Obsess platform.
The official launch of Disney's digital pins is likely to align with the debut of the Disney Metaverse World.

Technical Analysist
Price Momentum
DIS is trading in the middle of its 52-week range and above its 200-day simple moving average.

What does this mean?
Investors are still evaluating the share price, but the stock still appears to have some upward momentum. This is a positive sign for the stock's future value.