Disney has chosen Polygon for its Web3 to take part in its 2022 Accelerator Program.
Six startups will join the 2022 Disney Accelerator program, the entertainment juggernaut Walt Disney said on July 13. The layer-2 Ethereum scaling network Polygon was one of them. The goal of the business development program is to hasten the expansion of creative businesses. Disney is reportedly concentrating on cutting-edge technologies in the area of immersive experiences this year. This comprises characters created by artificial intelligence (AI), the Metaverse, augmented reality (AR), nonfungible tokens (NFTs), and virtual worlds. Disney has chosen Polygon because of its scalable assets, which enable developers to create Web3 experiences.
Disney Targeting Web3
This week marks the beginning of the program, which will link the six businesses with Disney’s experience to foster their imagination and innovation. According to the statement, participants will receive direction from Disney’s top leadership team as well as a committed executive mentor. The program runs throughout the summer and comes to a close with a Demo Day at Walt Disney Studios in Burbank, California, in October. Disney has been at the vanguard of utilizing technology to create the entertainment experiences of the future, according to Bonnie Rosen, general manager of the Disney Accelerator program.
Click play, a Web3 social app for finding NFTs connected to actual places that can be shared using augmented reality, is one of the other five businesses joining Polygon in the initiative. Inworld, an interactive, AI-driven character creation platform, and Lockerverse, a Web3 platform that empowers creators to make stories that define cultures, are added to the list. The remaining two businesses are Red 6, an AR hardware startup, and Obsess, experiential e-commerce platforms for businesses to build immersive 3D virtual stores in the Metaverse.
The six businesses will be given access to co-working space at Disney’s creative campus, investment funding, and mentor support and direction from top corporate officials. Entrepreneurs, financiers, and business executives from the entertainment and technology sectors will also be present. To add Web3 capability to the new gadget, Polygon and mobile phone maker Nothing established a partnership earlier this month.
Polygon (MATIC) Price Reaction
The revelation had a significant impact on Polygon’s native token, still known as MATIC, which had a strong day-to-day pump of 25%. After a brief decline from the intraday high, MATIC was trading at $0.63. It has had a significant decline from its all-time high, falling by 78 percent from the stratospheric $2.92 it reached in November 2021, similar to most other cryptocurrencies. But at present, it is the highest-performing token among the top 50 cryptocurrencies.