NFTs boost the market capitalization of Disney to $257 billion

Disney, founded in 1923, is well known for its entertainment offerings like characters and theme parks. It was established collectively by Walt Disney and Roy Disney as an entertainment and media company. Little were they aware of the empire that it was going to become in the years to come. For instance, it later ventured into television shows, music, and books, not necessarily in the sequence of events.

NFTs, short for non-fungible tokens, is something that has totally changed the game for Disney now. The company continues to celebrate its brilliance in storytelling and entertainment experience. Fortunately, that is happening with the objective of reaching more people around the world.

Disney has, therefore, ventured into the segment of making its characters and storytelling available to the world through the NFT industry. This may be credited to Bob Iger, the Chief Executive Officer of Disney, who has always blacked innovation in the company.

Bob Iger has seen Disney expand its content offering by acquiring Marvel Entertainment, 21st Century Fox, and Lucasfilm. The market capitalization has risen from $48 billion to $257 billion under the leadership of Bob Iger.

However, there is a new industry that Disney is looking to explore. Bon has recently cited that the company is looking at the NFT space very closely. He has said that there is an opportunity for Disney to represent its characters and stories digitally through non-fungible tokens. Considering the number of characters and stories with Disney, there is indeed a lot of potential for the company to dive into and reach a larger number of fans across the world.

This would be in addition to its establishments like theme parks. One of the Twitter users who goes by the name @sobylife has said that the man who saved Disney – Bob Iger – and grew its market capitalization is bullish on NFTs. The Twitter user appears to be right based on the statement that has been issued by Bob.

Iger has said that the fans could soon see the explosion of things being created, traded, and collected in non-fungible tokens.

Assuming Disney does venture into the NFT segment, there is speculation that the company is going to do pretty well as it has a huge collection of characters and stories. What could work best for Disney is that its characters and stories are famous worldwide, thereby giving it a good position in the NFT industry even before officially getting launched in the digital segment.

NFTs were earlier about having music, art pieces, and sports collectibles. The popularity has rather invited everyone to the industry and launched their initiatives to reach their fans. Blockchain technology has achieved a lot since coming to notice in the last decade. Users can now have a collection of digital assets which can be traded for a better price.

Virtual experience matters in NFTs, and Disney will surely tilt in that direction to jump to the top spot as early as possible.

Roxanne Williams

Roxanne Williams has recently joined as a market reporter for CryptoNewsZ - the 24/7 crypto news site, where she produces recent stories, technical analysis and price updates on world's leading cryptocurrencies.

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