A new series of collectible NFTs will be released to celebrate Disney+ Day.
Disney has partnered with the VeVe NFT marketplace to make their “Golden Moments” collection available to House of Mouse fans.
Here is everything you need to know about it.
What are ‘Golden Moments’?
Digital collectible NFTs depict some of the most beloved characters and stories from iconic Disney franchises.
The collection became available through the VeVe platform starting November 9, with a series of all-gold digital statues available for fan purchase.
These include characters like Wall-E and the Pizza Planet pizza truck that has been featured in many of Pixar’s movies.
A special “Ultra Rare” digital collectible will be released on the actual date of Disney+ Day, November 12.
Each eligible purchaser of a digital collectible from VeVe’s Golden Moments Collection will also receive an offer code for three months of Disney+, or 12 months of Disney+ for purchases of a special ultra-rare digital collectible.
How do I get one?
To get one of the NFTs, you’ll need to sign up for VeVe, which you can do via the platform’s website or via its Android or iOS app.
More collectibles are expected to be added to the collection in the future through special “delivery days”, where you’ll be able to purchase blind boxes.
These collectibles are only offered for purchase in a blind box, meaning you won’t know which collectible or rarity you’ve purchased until after your purchase.
What is a non-fungible token?
Non-fungible tokens are cryptographic tokens that represent something unique.
Unlike bitcoin and other cryptocurrencies, they do not represent a mutually “tradable commodity” (in the case of cryptocurrencies, money).
This means that you cannot part with an NFT and replace it with something of equal value later, as you could with a sum of cash.
That means they are, by definition, not “expendable”; you cannot exchange them for other cryptocurrencies or goods, as you can with money.
Its history dates back to 2017, when the American studio Larva Labs developed CryptoPunks, a series of collectible digital characters traded through NFTs, which serve as a good starting point to become familiar with technology.
There are 10,000 unique CryptoPunks to collect. But being digital commodities, the ability to make copies that could be freely traded, thus reducing their value, is easy.
Therefore, CryptoPunks became digitally scarce through the use of blockchain, a kind of “cloud” technology for financial assets that tracks ownership of files through advanced security protocols.
This gives each Punks holder proof of ownership, meaning there will only be one true copy of each of the 10,000 digital characters in the world.
How much could a Golden Moment be worth?
In addition to owning a piece of digital Disney memorabilia, the attraction for collectors will be the penchant for NFTs to dramatically increase the price, thanks to the scarcity given to them via blockchain.
This means that your collectible could be worth much more in the future than what you paid for it.
It’s unclear how much Golden Moments could be worth, and a lot depends on how rare each collectible is, but with Disney such a beloved brand, demand for NFTs could skyrocket prices.