Perhaps we will see another hype cycle emerging.
A couple years ago, the "Metaverse" was all the rage. At that time, I stated it was something that was a long way off, at least how I envision it.
That said, we are seeing progress made. However this ultimately looks, Web3 is going to be a part of it. This means that the integration of traditional companies with Web3 applications is a step in the right direction.
When it comes to entertainment and animation, few names are bigger than Disney. The most recent news that it is dipping its toe into this realm is exciting.
Disney Partners With Carrieverse
Carrieverse enteres into a licensing agreement with Disney. This will bring some of that company's favorite characters to the digital entertainment platform.
What is Carrievrse?
Founded with a vision to redefine digital entertainment, Carreiverse aims to lead the next generation of interactive experiences through its innovative metaverse platform. Thus far, Carrieverse has reached 150,000 DAU within Southeast Asia and plans to establish a foothold in the Indian and North American markets before long. ‘Superkola Tactics’ has also already been launched and garnered over 800,000 pre-registrations.
It is a company that is tokenized, with its token as a central part of the platform.
This is also Disney's first major foray into Web3.
Disney’s cautious yet strategic foray into the Web3 space underscores a growing trend among major entertainment giants. By partnering with Carrieverse, Disney is not just expanding its digital footprint but also embracing the future of interactive entertainment while also showcasing their faith in Carrieverse as a reliable partner.
As evidenced here, this is not going away. We are going to see many traditional brands entering the space as more is built out.
Web3 is going to disrupt entertainment completely. We already see how it is being affected simply through fragmentation. This is going to add a completely new layer.
A World Of Abundant Networks
The challenge for companies going forward is we are moving towards a world of abundance networks. Systems are springing up all over the place. This includes more than just Web3 networks, although that alone is something to consider.
A decade from now, we are going to see millions of networks, coming in all forms. This means that what appears to be fragmentation today will be considered consolidated. In other words, it is only going to increase.
This means that attention will be further diluted. How are companies going to get eyeballs?
Here is where we are going to see a radical change from what we are accustomed to.
An entity like Disney is going to have a choice. After the streaming nightmare these types of companies endured, the best path will be to leverage their library. In other words, they can offer their properties, either films and shows or IP, to anyone willing to license it.
Essentially, a company like Disney will be smart to be in as many places as it can be. For everything 100K networks, it should be on a certain percentage of them.
The other approach is to build one's network. This is more of a challenge. Disney can do it yet the amount of success will be limited.
To achieve this end, in my view, requires offering a lot more than entertainment. Being a specialized platform can bring a degree of success but not large numbers. People are going to gravitate to those areas where they can fill most of their needs.
The Exponential Of It All
We are residing in the digital realm. This means that exponential curves are the norm.
A company like Disney achieved tremendous success by being a platform that was able to leverage its assets. This is something that is waning as the digital world expands. Due to technological progress, more are going to enter the realm.
The broadcast industry is already facing massive competition from Big Tech. A few entities were already swallowed up. It is a trend that is likely to continue.
Disney is large enough it will likely be able to remain on its own. That said, moves like this could expand its reach. We know the likes of Amazon are integrating entertainment into its platform. Disney doesn't have the same foundation to do this.
In this sense, it should seek to ride on top of as many networks as possible.
Web3 is going to keep eating a larger portion of the Internet. Each day, there is more activity tied to these platforms. Whether it is in development, finance, or social media, we are seeing some progress. It is still very small, especially when compared to Web2. This will not be the case forever.
The gap could close with the emergence of AI and large language models. Here is a situation where technology, while obviously employed by the largest entities, could have a more significant impact on the smaller ones.
For the moment, Web3 is the smaller ones.
Disney is entering Web3. This will not be the last announcement of this nature.