Disney Pinnacle set to breathe new life into NFTs featuring Star Wars and Pixar characters

NFTs aren’t gone yet — Disney is poised to introduce a new collectible experience, Disney Pinnacle, later this year. This initiative will transform characters from Pixar, Star Wars, and Disney’s classic animated films into tradeable digital pins. The Disney Pinnacle website has a waitlist for interested traders and collectors; however, it doesn’t clarify the nature of the “digital pins” or the rationale behind creating a verifiable digital collection.

When announcing Pinnacle, Disney and its partner Dapper Labs deliberately avoid using the term “NFT.” Although Dapper Labs still brands itself as “the NFT company,” recent controversies and market fluctuations have seemingly led the company to distance itself from the term. As of now, the only content available on the site is a privacy policy, clearly indicating that this is a Dapper Labs project licensing content from Disney, rather than an in-house Disney effort similar to Disney Plus.

The NFT collection will be launched through an iOS app, with the promise of web and Android applications to follow later. Even with minimal details beyond a simple animation of the pins spinning around, there are indications that Dapper Labs could replicate its prior successes, as seen with NBA Top Shot in 2020 and earlier projects like CryptoKitties, which drew significant attention.

Dapper Labs’ previous success with NBA Top Shot involved replacing the cat-themed artwork with collectible “moments” commemorating players and highlights, appealing to basketball enthusiasts. However, the market for NBA Top Shot has seen a decline since its peak in February 2021, with dwindling monthly sales and a decrease in active sellers, leading to dissatisfaction among early adopters.

Dapper Labs’ CEO, Roham Gharegozlou, is currently embroiled in a lawsuit alleging the sale of unregistered securities through Top Shot, marking a significant challenge for the company.

A prior venture involving the NFL, known as NFL All Day NFT, failed to achieve the same level of success, with activity peaking in the fall of 2022 and subsequently dwindling, indicating a spotty track record for similar initiatives.

Although the press release announcing Disney Pinnacle did not disclose financial terms, it is evident that Disney’s intellectual property is a valuable asset. This announcement coincided with the launch of the ESPN Bet gambling operation, where Disney is set to benefit from a partnership with Penn Entertainment, involving a substantial payment over a decade for licensing its sports channel name.