Disney chooses Polygon to participate in its 2022 Accelerator Program

Disney chooses Polygon to participate in its 2022 Accelerator Program

American mass media and entertainment conglomerate, Walt Disney Company has reportedly selected Polygon, a decentralized Ethereum scaling platform, for taking part in its accelerator program this year.

According to sources, Polygon is one of the six firms participating in Disney’s accelerator program this year. In this program, Disney will provide guidance to its leadership team and provide a dedicated mentor to the participants. Every participant will attend a Demo Day at Walt Disney Studios sited in Burbank, California.

Ryan Watt, Chief Executive Officer of Polygon Studios, stated that Polygon is the only blockchain selected for being a part of this program. He further said that this signifies the volumes for the work being done (at Polygon) and where the firm is moving.

Polygon, apart from being the only blockchain chosen, is one of the most recognized blockchain projects on its own. Currently, the firm’s MATIC token is placed 18th in the ranking of largest cryptocurrency, enjoying a market capitalization of $4.61 billion.

While asked about why it chose Polygon, Disney did not provide any comments but hinted to its Web3 features and ability to execute cryptocurrency transactions with web applications.

Additionally, two other blockchain-related companies were said to be selected, namely Flickplay, a web3 social app, and Lockerverse, a Web3 e-commerce platform, in the accelerator.

Although there is no sign that these efforts would last long and turn into a stable relationship, Disney is undoubtedly interested in NFTs. Earlier, it rolled out several lines of NFTs in collaboration with Veve, an app-based marketplace for premium licensed digital collectibles.

In addition to this, Bob Iger, former Disney CEO, has praised NFTs as they hold tremendous potential for Disney, given a huge prospect in intellectual properties.

As the participants mentioned above are involved in NFTs and blockchain, and the remaining companies, Red 6, Obsess, and Inworld, are said to be involved broadly in the metaverse technologies.

Source Credit - https://cryptobriefing.com/polygon-chosen-for-disney-accelerator-program/