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Polygon up 13%: Disney chooses MATIC for Accelerator project

 


The news that Ethereum Layer 2 scaling platform Polygon has been selected to participate in Disney's Accelerator program has given its native token MATIC a steep bullish boost.


Polygon participates in Disney's accelerator program

Polygon is one of six companies that will participate in Disney's Accelerator program this year, as recently announced. Over the course of the program, each participating company will receive investment capital, access to co-working spaces at the entertainment giant's creative campus in Los Angeles, and mentorship from Disney executives and leaders in the technology and entertainment industries.


The program will conclude with a Demo Day at Walt Disney Studios in California. Polygon Studios CEO Ryan Wyatt noted Wednesday that Polygon was the only blockchain company selected for the program.


The exclusive accelerator program was open to growth-stage companies with a vision to impact the future of technology and entertainment. Disney announced that this year's class will focus on use cases involving technologies such as augmented reality (AR), artificial intelligence (AI), and non-fungible tokens (NFTs).


In addition to Polygon, the accelerator class features AR company Red6, social Web3 app Flickplay, artificial intelligence character creation company Inworld, virtual e-commerce platform Obsess, and Web3 platform Lockerverse.


Polygon's MATIC increases over 10 percent

The news about the Disney Accelerator program seems to have gone down well with investors. Polygon's MATIC token is up over 12% in the last 24 hours. According to Coincap, it is currently trading at around $0.69.


However, like the rest of the crypto market, MATIC is down significantly from the highs in December 2021, when it hit a historic $2.92. 


Meanwhile, crypto market data aggregator Santiment MATIC has warned investors to be cautious following the recent surge as a cooldown could be imminent in the near future.

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