Last Updated on July 18, 2022 by Bitfinsider

Ethereum layer-2 network solutions Disney has chosen Polygon for its business growth program through 2022

Six startups will join the 2022 Disney Accelerator, 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 enables developers to create Web3 experiences.

Disney is focusing on Web3

This week marks the beginning of the program, which will link the six businesses with Disney’s experience in order 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.

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.”

Flickplay, 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.

In order to add Web3 capability to the new gadget, Polygon and mobile phone maker Nothing established a partnership earlier this month.

Price Reaction for Polygon (MATIC)

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 lofty $2.92 it reached in November 2021, similar to most other crypto currencies. But right now, it is the highest-performing token among the top 50 cryptocurrencies.

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