In this video, I will be talking about Disney and why I think it should be going into NFTs or at least looking into the possibility. Because if it doesn't, it will lose out on potentially billions of dollars in revenue. With that said, Disney is one of the stocks I will be holding forever. You can find the video below.
One area Disney hasn't really explored yet is the NFT space. According to DappRadar, trading in NFTs climbed to $10.7 billion in the third quarter, an increase of more than 700% from the previous quarter.
Disney has arguably the best IP in the world. It has millions if not billions of fans. So why not go into the NFT space? It won't cost the company much, but it will make it hundreds of millions if not billions of dollars in the future. Marvel released a couple of NFTs this summer, with prices from $40 to $400 depending on the rarity. Whether we'll see more in the future remains unknown.
But that's not all the company can do.
Not just art
When thinking about NFTs, most will probably think of pixelated pictures and that's about it. But I'm also talking about "virtual keys" or "virtual shares" being NFTs on the blockchain. Think of them in comparison to the various passes you can buy when going to a Disney park. Such a "key" might allow you to attend events, buy discounted merchandise, mint an NFT, and much more. The possibilities are endless with this.
As a shareholder, I'll be very happy if Disney announces an NFT line or at least says it's looking into it. It's another revenue stream, and since we're moving toward web 3.0, it's a no-brainer.
For the full insights, do watch the video below.
*Stock prices used were the closing prices of Oct. 15, 2021. The video was published on Oct. 17, 2021.