The Walt Disney Company on Wednesday announced new members to its accelerator program, including leading Web3 company Polygon.
The company also confirmed that Polygon is the only blockchain provider participating in the program.
Polygon is an Ethereum scaling tool that addresses some of the significant disadvantages of Ethereum, such as limited bandwidth and poor user experience.
Joining Polygon this year are social media app Web3 Flickplay, artificial intelligence platform Inworld, storytelling platform Web3 Lockerverse, augmented reality company Red 6, and e-commerce platform Obsess. The program starts this week.
Disney said that participants would be provided investment capital, access to workspace at the company’s creative campus in Los Angeles, and mentoring support from Disney executives, entrepreneurs, investors, and entertainment and technology business leaders.
This year, Disney focused on creating immersive experiences through technologies such as augmented reality (AR), artificial intelligence (AI), and NFT.
The company has always strived to use cutting-edge technology to provide an immersive experience for its fans. It was only a matter of time for them to join the Web3 space.
After the announcement of MATIC, Polygon’s native cryptocurrency, it surged 18% to $0.64. MATIC also climbed 24% over the week.