As the crypto market crash routed the Terra/ Luna ecosystem and caused hedge fund Three Arrow Capital to go under, many investors are questioning the future of blockchain technology. Long-time bulls were in for some good news as Disney Accelerator selected Polygon for their business development program. MATIC itself, which was co-founded by Sandeep Nailwal and counts billionaire Mark Cuban as a mentor, is about 75% below its record high in December. But such announcements from a blue-chip company like Disney can raise expectations for greater potential backing and adoption. The news has caused the price of the MATIC token to rise over 10%, even after a 21% hike following the announcement. Since Disney does not have an in-house crypto solution, the accelerator marks its first foray into the digital assets space for Polygon, wrote Walter Teng, digital asset strategy associate at Fundstrat.
Disney to Focus on AR, NFTs & AI With Polygons Ethereum Asset Transfer Functionality
“As crypto onboards its next 100 million users, it is perhaps a good time to consider partnerships and mainstream exposure,” Teng said. “This year’s Disney Accelerator class focuses on building immersive experiences, specializing in technologies such as augmented reality (AR), non-fungible tokens (NFTs), and artificial intelligence (AI) characters,” Disney said in a statement. Flickplay, Inworld, Lockerverse, Obsess, Polygon, and Red 6 have been selected for the Disney Accelerator program in 2022.
Polygon, which reached an all-time high of $2.92 on December 27, 2021, has fallen about 72% in 2022 (YTD) so far. Other Ethereum-based projects can also transfer data and tokens using Polygon’s MATIC sidechain. Polygon (MATIC) is the native cryptocurrency that powers the Polygon Network, a layer 2 platform that was created in 2017. Originally called the Matic Network, the Polygon Network allows developers to create and deploy their own blockchains that are compatible with the Ethereum blockchain with just a single click.
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Chris Munch is a professional cryptocurrency and blockchain writer with a background in software businesses, and has been involved in marketing within the cryptocurrency space. With a passion for innovation, Chris brings a unique and insightful perspective to the world of crypto and blockchain. Chris has a deep understanding of the economic, psychological, marketing and financial forces that drive the crypto market, and has made a number of accurate calls of major shifts in market trends. He is constantly researching and studying the latest trends and technologies, ensuring that he is always up-to-date on the latest developments in the industry. Chris’ writing is characterized by his ability to explain complex concepts in a clear and concise manner, making it accessible to a wide audience of readers.
