Disney’s Latest Web3 Move Highlights the Importance of NFT Advocates

by James · October 28, 2022

In a move that underscores the importance of lawyers in the NFT space, The Walt Disney Company announced that it is looking to hire an in-house lawyer who will provide legal advice and support for global NFT products, among other responsibilities listed in the job description. This is the latest sign that big companies are paying attention to what Web3 has to offer. As the NFT and DeFi industry grows, it will become increasingly crucial for NFT companies to have skilled legal representation.

According to the recent job posting from the entertainment conglomerate – Disney is looking for someone to help it navigate legal risks and opportunities, and also ensure that its NFT products comply with applicable US and international laws and regulations.

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NFT lawyers to streamline how Web3 works

This move signals an aggressive push by Disney to stay ahead of the race for “emerging technologies” – NFTs and the Metaverse. In particular, Disney started exploring the NFT segment last year when they started exploring these new technologies through experiments.

With values soaring at $11 billion and counting, the NFT market is a hotbed of fraudulent activity. This often means that fraudsters stamp a fake digital image that does not belong to them. Selling these “non-authentic” coins also violates copyright laws, in violation of several other local regulations.

Hiring the best NFT attorney will help protect your company’s assets and brands from trademark squatters or pirates looking for a chance to make a quick buck through fake NFTs. The lawyers will also best advise the Web3 companies on ways to avoid expensive lawsuits.

GemSet’s panel of NFT lawyers

With the same goal, GemSet, a premier NFT company, has recently incorporated a team of NFT lawyers into its advisory panel. Attorneys Gai Sher and Eric Galen will be the pillars to hold the legal framework of GemSet. Both lawyers have impeccable records and belong to the renowned law firm Greenspoon Marder LLC.

Gai was recently recognized on The National Law Journal’s 2022 Trailblazers list for Cryptocurrency/Blockchain/Fintech Law. She is well versed in business law and has successfully handled several NFT cases.

Legal veteran Mr. Eric Galen leads Greenspoon Marder’s innovation and technology group. He leverages his unique corporate, Web3, media and entertainment law background to help clients succeed.

His diverse clientele and partners include giants such as Intel, Microsoft, Doodles, E11even Crypto, Fullscreen, Route, Calm, GameSquare Esports, OPI, Jaunt VR, Baccarat, Blo Dry Bar, Awesomeness TV, Tik Tok, Imagine Entertainment, Milk & Honey, Audiomack and Haute Living.

For the uninitiated, GemSet is a group of Top 10,000 NFTs created by the famous South African artist Johnathan Schultz. He reinvents contemporary art to seamlessly weave it into digital art.

The bottom line

GemSet has shown that having a solid legal team is a key factor in giving buyers confidence that they are getting authentic NFTs. Therefore, companies should not underestimate the importance of an excellent legal team for companies in the blockchain space. To stay updated on the GemSet NFT collection, visit the website and social media pages for more details and information on upcoming sales.