MATIC Surges as Disney Chooses Polygon for Accelerator Program

The Ethereum scaling tool is one of six companies selected by the media and entertainment giant to be a part of its program to develop AR, NFT and AI Experiences.

By Fran Velasquez

Jul 13, 2022 at 9:52 p.m. UTC

Updated Jul 14, 2022 at 9:06 p.m. UTC

Fran Velasquez

Fran is a TV Writer and Reporter. He has written for CNBC Make It and Inc. He owns no crypto holdings.

Follow @_franvela on Twitter

Ethereum scaling tool Polygon is continuing to expand its Web3 infrastructure via a new project with media conglomerate the Walt Disney Co. (DIS).

Polygon is one of six companies selected to participate in Disney’s 2022 Accelerator program, a business and development program designed to spur the growth of innovative companies around the world, according to a statement made by Disney on Wednesday. Polygon was the only blockchain-native platform chosen.

The price of MATIC, Polygon’s native token, jumped almost 21% to just over 69 cents over the last 24 hours.

The accelerator program, which begins this week, is looking to develop new technologies within augmented reality (AR), non-fungible tokens (NFT) and artificial intelligence (AI).

During the course of the program, each participating company will receive guidance from Disney’s senior leadership team, as well as a dedicated executive mentor.

Read more about

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.