Dapper Labs, one of the premier companies in Web3, is at it again. This time, it is partnering with Disney, the century-old entertainment provider, to create a non-fungible token marketplace called “Disney Pinnacle.” Although details about the content on the marketplace haven’t been fully announced, it will include NFTs from Star Wars and Pixar, among other major franchises.
In the announcement, Dapper Labs and Disney both shied away from the term NFT, referring to the collectibles on the platform as “digital pins.” The marketplace will be an immersive, global trading experience where users will not only be able to collect pins from their favorite franchises but interact with other users and form relationships.
Users will be able to pay for the pins using debit or credit card, ACH from bank accounts, and various cryptocurrencies, including Bitcoin and Ethereum, with no transaction costs added. The signing-in process will be in a Web2 format, likely using an online credentialing system or an email, rather than having users connect a Web3 wallet.
Disney Pinnacle will be a mobile-based application as well. Currently, interested users can sign-up for the waitlist on the marketplace’s website. Eventually, there will likely be a beta mode and period of user feedback. After, there will be an official launch with the app debuting on the Apple iOS app and Google Play stores.
Dapper Labs is known for its products that have inspired serious trading volume in the NFT space. In 2017, it was at the helm of CryptoKitties, which slowed Ethereum to a crawl. In 2020 and 2021, it launched NBA Top Shot, which, along with Beeple’s $69 million NFT sale, inspired interest in the NFT market like never before.
Although the company has had a series of layoffs this crypto winter, it still retains 200 employees, the majority of which are involved in development. It was once valued around $7.6 billion, one of the highest valuations of any NFT company around. In addition, it is the creator of Flow, a popular blockchain known for its eco-friendliness.
Dapper Labs Has Been Busy in the Bear Market
Although the NFT market experienced a burst last week (and, more bullishly, Dapper Labs products tend to catalyze the market), we’ve been in a prolonged bear for over a year. But that hasn’t stopped Dapper Labs from building. Here are three stories involving it, all from about a year ago.
First, Dapper Labs rolled out a new tool called ‘Dapper Creator’ that was designed to help out Web3 artists. In addition to allowing for more experiences and creativity, the tool assists artists with monetization, a sore sticking point in this bear market.
Next, Dapper Labs partnered with Ticketmaster to provide tickets as NFTs on the Flow blockchain. The tickets were said, at that time, to function as “proof-of-attendance” tokens and serve as digital memorabilia for people attending events.
Lastly, Dapper Labs partnered with the LA Rams to debut NFT Super Bowl rings following the team’s victory in the big game. There were a total of 6,500 NFT rings minted, with three categories available: Starter, All-Star, and Hall of Fame.
As these stories show, Dapper Labs has been busy in the bear market, even as many companies have stopped innovating. With this new partnership with Disney, the company is showing its considerable mettle. Hopefully, the marketplace bring new people into the space and the volume that started last week will continue.