Disney Launches NFT Platform, ApeFest Raises Concerns, and NFT Sales on the Rise

Disney to launch NFT platform with Dapper Labs

In a move that signals the company’s foray into the world of digital collectibles, Disney has announced a partnership with NFT company Dapper Labs to debut its own NFT platform, Disney Pinnacle. This platform will tokenize characters from the Disney franchise, Pixar, and Star Wars as digital collectibles. Once fully released on the Apple App Store, Google Play Store, and web browsers by the end of 2023, fans will have the opportunity to trade and collect digital pins.

According to Cointelegraph, the launch of Disney’s NFT platform signifies the growing popularity and influence of NFTs in the entertainment industry, with Disney joining the ranks of other major companies exploring the potential of this technology.

NFT sales volume expected to continue upward trend

After witnessing a consistent upward trend in NFT sales volume, industry insiders are optimistic about the future of this market. Jonathan Perkins, co-founder of NFT marketplace SuperRare, expressed confidence that the trend will persist for the next six months and declared a potential end to the bear market. Similarly, Oscar Franklin Tan, chief financial officer of NFT platform Enjin, emphasized the establishment of NFTs as a distinct class of digital assets separate from cryptocurrencies.

The industry’s positive outlook on the NFT market is echoed by Cointelegraph’s interviews with various professionals, drawing attention to the continued growth and development of this sector.

China takes a firm stance on NFT theft

In response to the rising prominence of NFTs, the Chinese government has declared that stealing digital collectibles like NFTs would be considered a criminal act punishable by theft sentences. This announcement serves as a testament to the legal and regulatory challenges surrounding NFTs, as various jurisdictions grapple with the emerging landscape of digital ownership and theft.

Roblox CEO envisions cross-platform NFTs and digital objects

Roblox CEO David Baszucki recently shared his aspiration for in-game cross-platform NFTs, allowing users to transfer their collections across different platforms. This imaginative concept opens the door to new opportunities for creators, celebrities, and charitable organizations to leverage NFTs and reach wider audiences.

Yuga Labs addresses eye issues at ApeFest

Following reports of eye-related complaints at the recent ApeFest event in Hong Kong, NFT company Yuga Labs acknowledged that UV-A emitting lights installed at the venue were likely the cause of the issues. Yuga Labs, in collaboration with the event production agency, conducted an investigation to identify the root cause, underlining the importance of safety and awareness in NFT-related events.

This digest of the week’s most noteworthy developments in the NFT space sheds light on the evolving nature of NFTs in the entertainment and digital collectibles industry. For further insights and updates, stay tuned for the latest reports in this rapidly evolving space.

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J-S Tremblay
About the author - J-S Tremblay

I've been involved in the cryptocurrency world since 2016 and trading since 2019. I started Moon and Lambo in 2021. I'm passionate about crypto and love to share my knowledge. I hate bankers and I hope that cryptocurrency will change the financial world for the better. View full profile...

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