On Sunday, March 13, Disney-owned Pixar partnered with digital collectibles company VeVe to release an NFT collection called Disney Pixar Pals. The collection featured NFT art pieces from fan favorite films like Toy Story, The Incredibles, and Cars. The drop took place on VeVe's NFT marketplace mobile app and within the first 24 hours, all NFTs sold out.
There were over 54,995 available NFTs at a price of $60 each, which resulted in around $3M in sales. Prices on the secondary market started reaching $350 shortly after the sale. The NFTs featured different characters, like Woody from Toy Story, and had varying levels of rarity and quantity. These NFTs were sold as 'blind boxes,' which meant you didn't know what NFTs you would receive until you after you paid for them.
A large part of Disney's and Pixar's business has come from physical merchandise. To them, NFTs could be considered a digital extension of their already existing businesses. Either way, it's likely that their adoption of NFTs is just beginning.