Disney company seeks legal help to expand into Web3 territory. The objective is to penetrate this new market while protecting oneself legally. Some consider that there is a form of legal vacuum when it comes to NFTs and more generally to decentralized finance. In this sense, the recruitment of a lawyer specializing in transactions is a necessity for the group.
The future role of the lawyer
The Walt Disney Company is looking to hire a transaction lawyer. The goal is to explore opportunities related to emerging technologies, including the metaverse. Disney says on LinkedIn that the work schedule will be accelerated and aggressive. The job posting also states that the person hired will be expected to partner with business teams to plan new emerging technology projects globally. The idea is to penetrate new market segments such as metaverse and decentralized finance.
Her role will include performing due diligence for NFT, blockchain and cloud provider projects. Added to this is the negotiation and drafting of complex agreements within the framework of these projects. Typically, transaction lawyers review merger and acquisition agreements and other complex business transactions. Among these missions, nothing is surprising. This is the classic work of the transactional lawyer, whose role is particularly important at the time of due diligence.
The transition to the metaverse
The announcement was posted on LinkedIn on Saturday, September 24, 2022. A few days prior, the Disney CEO said at the D23 Expo fan convention that the company was exploring and developing plans for the metaverse. In June, the company had already hired an experienced Apple executive as vice president of a “Next Generation Storytelling Creative Experiences.”
The term metaverse is now ambiguous according to some market players. First, because the company Facebook has become Meta in reference to the term metaverse, and therefore tries to be its symbol. Then, because this term brings together several definitions and implies different realities. It is therefore not surprising that Disney decided to replace this popular name with “Next Generation Storytelling Creative Experiences”. Nevertheless, there is a general enthusiasm on this promising market which goes in the direction of the progressive normalization of cryptocurrencies.
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