Disney announced a partnership with VeVe late last month. One step closer to the NFT space, companies like McDonald’s, Nike and Quentin Tarantino decided to get involved. Now, Disney+ is finally seeing the value of NFT.
Leading up to Disney+ Day on November 12, VeVe will be posting daily “golden moments” from Disney NFTs properties.
As a result, NFT purchasers receive three months of Disney+ free in select markets. On the final day of this release, buyers received a one-year Disney+ subscription with each purchase.
What’s the status of other NFT releases?
As most people probably predicted, there was a lot of demand for the first official Disney NFT series. On the other hand, the Simpsons drop was full of errors and loopholes for purchasers. As a result, VeVe had to release a statement after the mint.
Promises of smoother future releases were made, but a large number of subscribers seemed to have some doubts about those promises. Similar questions plagued the next day’s Elsa and Mickey’s Sorcery Hat drop.
Many subscribers even called for VeVe to delay the launch of the following Golden Hour series. With some users able to get 10 boxes while others can’t even access the app, the allocation system seems a bit unfair to some buyers.
With Marvel, Pixar, Star Wars and the premium NFT drop coming, Veve needs to fix the bugs as soon as possible.
Understandably, the platform isn’t going to accommodate demand for Disney IP less than a year after its release. The demand for NFT has grown so fast in the past year that the technology has not been able to keep up. If this is a continuing trend, expect more mainstream companies to be hesitant to enter the space.
As a result, the Google Play store has been flooded with negative reviews. Users are clearly upset with the decline and they aren’t afraid to hear their voices. Disney hears and sees these reviews. They are likely carefully monitoring their first steps in the new space. If VeVe doesn’t address this issue soon, expect more mainstream giants to become more hesitant in the future.
On the other hand, as Marvel, Star Wars and premium declines continue, it’s important to proceed with caution when buying diamonds, the currency used to purchase golden moments. Many users are buying Diamonds hoping for a chance to get their hands on the reduced-priced product, and the app failed to work in the first place. They are now stuck with these illiquid diamonds that currently have no resale value.
On the other hand, if you can get this collection, having the first iteration of the Disney licensed NFT is definitely something every major NFT collector wants. Add in the demand from Disney fanatics and the rarest diamonds in this collection could be very valuable in the future.