$1.5 Billion Metaverse Coming To Blockchain?
Disney + ESPN + Fortnite + Flow
The documents discuss partnerships between major entertainment companies like Disney and Epic Games and the opportunities for them in web3 and blockchain technology. Disney has invested $1.5 billion in Epic Games and is partnering with them to develop games, virtual worlds, and digital content. This represents Disney's biggest move into gaming and signals their recognition that younger generations are spending more time and money in online gaming environments.
Other entertainment brands like Mattel are also looking to adopt web3 and blockchain strategies to engage younger consumers, as traditional toys and physical products become less popular. Online gaming platforms like Roblox are seen as the future, with their ability to create virtual goods and integrate things like NFTs. Major brands want to find ways to create branded digital items and experiences within these online worlds.
Sports broadcasting leader ESPN, owned by Disney, also aims to offer direct-to-consumer streaming with interactive features to transform the sports viewing experience. They are exploring offerings like sports betting, NFTs, e-commerce, and social engagement. Their goal is to disrupt rather than be disrupted as viewing habits shift to streaming and mobile devices. Flow blockchain is positioned to support many of these web3 initiatives in sports and entertainment.
Recent examples include Disney's new digital collectibles app called Disney Pinnacle built on Flow, as well as Dapper Lab's NBA Top Shot, NFL All Day, and upcoming games leveraging Flow. These demonstrate the momentum toward branded digital goods and immersive online experiences targeted at younger consumers. Major entertainment brands are still in early stages of adoption but recognize the need to evolve their business models. Expect accelerated investment and innovation at the intersection of sports, entertainment and blockchain technology.
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