Disney NFTs: Veve Golden Moments collection explained, how do they work - and how much could they be worth?

A new series of collectable NFTs is set to be released to celebrate Disney+ Day.

Disney has teamed up with NFT marketplace VeVe to make its “Golden Moments” collection available to fans of the House of Mouse.

Here is everything you need to know about it.

What are ‘Golden Moments’?

The digital collectable NFTs represent some of the most beloved characters and stories from iconic Disney franchises.

The collection was made available through the VeVe platform from 9 November, with a number of all-gold digital statues available to be acquired by fans.

These include characters such as Wall-E, and the Pizza Planet pizza truck that has made cameos in many of Pixar’s films.

A special “Ultra Rare” digital collectable will be released on the actual date of Disney+ Day itself, 12 November.

Each eligible purchaser of a digital collectable from the Golden Moments collection from VeVe will also receive an offer code for three months of Disney+, or 12 months of Disney+ for purchases of a special Ultra Rare digital collectable.

How do I get one?

To get you hands on one of the NFTs, you will need to sign up to VeVe, which you can do either through the platform’s website, or via its Android or iOS app.

More collectables are expected to be added to the collection in the future through special ‘drop days’, on which you will be able to purchase blind boxes.

These collectables are only offered for purchase in a blind box, meaning you won’t know which collectable or rarity you have acquired 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 “interchangeable commodity” (in cryptocurrency’s case, money).

This means you cannot part with an NFT and have it be replaced with something of equal value later, as you would be able to a sum of cash.

That means they are – by definition – non “fungible”; you cannot exchange them for other cryptocurrencies or goods, like you can with money.

Their history dates back to 2017, when American studio Larva Labs developed CryptoPunks, a series of collectable digital characters traded through NFTs, which serve as a good starting point in getting your head around the technology.

There are 10,000 unique CryptoPunks to collect. But being digital commodities, the ability to make copies which could be traded freely – thus reducing their value – is easy.

So, CryptoPunks were made digitally scarce through the use of blockchain, a kind of ‘Cloud’ technology for financial assets that keeps track of file ownership through advanced security protocols.

This gives a proof of ownership to each Punks’ holder, meaning there will only ever be one true copy of each of the 10,000 digital characters in the world.

How much could a Golden Moment be worth?

Aside from owning a piece of digital Disney memorabilia, the attraction for collectors will be NFTs penchant for rising dramatically in price, thanks to the scarcity they are given through blockchain.

This means that your collectable could be worth a lot more in the future than what you paid for it.

It’s unclear how much Golden Moments could go on to be worth - and a lot depends on how rare each collectable is - but with Disney such a beloved brand, demand for the NFTs could send prices skywards.

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