The Walt Disney Company has plans to expand into new blockchain technologies, hand in hand with NFTs and the Metaverse, after announcing a job search for an experienced blockchain lawyer.
In the last few hours it has been announced a job search by Disney, whereby it is seeking a corporate lawyer, who possesses expertise in corporate transactions, emerging technologies and NFT, for the purpose of working on transactions linked to NFT, metaverse, blockchain, and decentralized finance or DeFi.
The company is specifically interested in hiring a lawyer specialized in this area to provide advice on the entire life cycle of the product, which would apply to non-fungible tokens at a global level. What the company points out is that it needs legal advice to comply with all the legal and regulatory requirements in force, both in the U.S. and internationally.
Through news like this, we can see how every day new jobs related to blockchain, NFT and metaverse arise. What can generally be seen in the web3 world are searches oriented to hire developers with skills in the Solidity language for example, or personnel for the recruitment area; for the marketing area, UX/UI design, among others.
But it can also be observed how the need to incorporate personnel for other areas arises, such as the professional advice of lawyers specialized in the subject; since the details of making a product, launching it to the public, its offering, registration, among other issues, are not of minor importance; since its legal implications must always be considered in order to avoid future problems.
Within the scope of a complete legal advice in this area, a wide range of issues can be contemplated, such as:
a) Compliance with legal and regulatory frameworka) Compliance with the legal and regulatory framework: whether under local or international laws, tax matters, or product formality;
b) Consumer Rightsb) Consumer rights: for the purpose of providing correct information to the potential consumer regarding the product offered, as well as the rights and guarantees that correspond to him/her;
c) Terms and Conditionsc) Terms and conditions: many times when a product is offered through a website, it must comply with formal requirements, which must be included in a specific section;
d) Compliance and Money Laundering Prevention (AML)d) Compliance: depending on the services also offered on the platform, certain unavoidable requirements must be met in order not to be a platform that facilitates money laundering and terrorist financing, as established by local and international regulations, such as FATF/FATF recommendations, or Wolfsberg Group standards, compliance with policies such as KYC, among others.
e) Trademark and Patent Regimee) Trademark and patent registration: many times when creating our own product, we forget an essential issue before launching it to the market, and among other things is the registration of trademarks and patents. Many factors must be analyzed at this stage, so if we avoid it, we may be violating the rights of another person, who is the owner at the registration level.
The search in question also references duties to be performed by the candidate, such as due diligence for NFT, blockchain, third-party marketplaces and cloud service provider projects, as well as ensuring compliance with applicable U.S. and international laws and regulations.
This attorney will also be responsible for providing day-to-day legal advice to Disney’s legal team and sales staff on NFT and cryptocurrency issues, including review of marketing disclosures, advertising and analysis of securities law issues relating to the promotion and sale of NFT.
DISNEY’S TRACK RECORD WITH NFT
Earlier this year, the company filed a patent application with the U.S. Patent and Trademark Office for a virtual world simulator for a theme park in the metaverse. Subsequently, a search for a business manager with expertise in NFT was undertaken.
From what can be gleaned from the aforementioned patent application, the company would be interested in giving visitors to its parks the ability to use phones to project 3D effects onto physical spaces within their reach, such as walls and other objects.
Likewise, this year the company has also put the focus on issues such as augmented reality, NFT and artificial intelligence; through its program Disney Accelerator 2022program, in which it selected 6 companies to contribute to its platform, among which we find Polygon, along with 2 web3 projects such as Flickplay and Lockerverse.
Written by Luciano Garriga (TW:@luchogarriga) for NFT Express