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15th July 2022 > > Disney.


Disney is building real-life applications for cryptos.

Market Snap (at time of writing)

Market Wrap

This oscillation above and below the 2-handle is getting a little dull. It would be much more exciting around the 3-handle …

Curious Cryptos’ Commentary – Charlie Munger, Vice-Chairman of Berkshire Hathaway

No-one can doubt that Berkshire Hathaway, led by Warren Buffett and Charlie Munger, is one of the most successful investment conglomerates ever built.

Both men are also known for their disdain towards all things crypto.

After describing crypto as a “venereal disease” back in February, Munger has reiterated his stance this week:

“I just avoid it as if it were an open sewer, full of malicious organisms. I just totally avoid and recommended everybody else follow my example.”

He went onto explain:

“I’m not interested in undermining the national currencies of the world.”

I think that comment gives great insight into his personal fears about cryptos, fears based on the

power that cryptos unleash, a power that can only come about because of the universal application of cryptos for the good of mankind.

Both Buffett and Munger keep claiming that cryptos have no use.

Which just goes to show they really do need to take full advantage of their subscriptions to the CCC going forward. The story below demonstrates just one example of a major company setting up to prove them both to be oh so wrong.

Curious Cryptos’ Commentary – Disney

Disney runs an annual accelerator program, to foster innovation and development in areas of interest to the company.

The program provides participants with investment capital, access to working space at Disney’s creative hub in Los Angeles (nice work if you can get it), mentor support from key Disney executives and other leaders of major companies in the technological world.

Disney are of course not doing this simply out of kindness – they see this as a long-term investment in building out their business to take advantage of future developments.

Bonnie Rosen, General Manager of the Disney Accelerator program, said:

"For nearly a century, Disney has been at the forefront of leveraging technology to build the entertainment experiences of the future. With our newest class of companies, we look forward to furthering our commitment to innovation and continuing to bring magical experiences to Disney audiences and guests for the next 100 years."

For this year’s programme, Disney are focussing on Web3, the next iteration of the internet revolution powered and enabled by the crypto revolution.

The companies chosen for inclusion are the following:

Polygon (*), a Layer 2 scaling solution for the Ethereum network;

Web3 social media app Flickplay;

Artificial intelligence platform Inworld;

Web3 storytelling platform Lockerverse;

Augmented reality company Red 6;

and Obsess, an "experimental" e-commerce platform.

These choices of activities shows that Disney believe that Web3 – involving the Metaverse, Augmented Reality, non-fungible tokens, and artificial intelligence – has the potential to drive growth for Disney in the coming years.

None of that is possible without cryptos and blockchain technology.

Read that and weep, Buffett and Munger.

(*) For disclosure purposes, the CCC is a long-term investor in Polygon.

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