Disney Announced Polygon Will Join Their Web3 Accelerator Program

Disney announced Polygon will join their web3 accelerator program where multiple crypto companies will work together as well so let’s read more today in our latest cryptocurrency news.

This year’s program focuses mostly on virtual reality and building the metaverse which is why Disney announced Polygon as a new member of their web3 accelerator program. Disney announced the rest of the 2022 participants of the program and Polygon is among them. The official announcement from Polygon reads:

“Raise your hand if you remember your first Disney experience like yesterday. We are excited to announce that Polygon has been chosen to be a part of the Disney Accelerator program.”

Raise your hand if you remember your first Disney experience like it was yesterday 🙋🏻‍♀️ #disneyfeels

We are excited to announce that Polygon has been chosen to be a part of the Disney Accelerator program 🎉https://t.co/hk6gZziy8X

— Polygon – MATIC 💚 (@0xPolygon) July 13, 2022

The project noted that it is also the only blockchain chosen for the program but it is unclear how many others applied or are under consideration. Previously known as Matic Network and rebranded in 2021. Polygon is interoperability and scaling framework for building ETH-compatible blockchains that want to address some of the limitations like the limited throughput and the poor user experience. Joining Polygon in this Web3 accelerator program includes the augmented reality company Red 6 and Obsess which is an e-commerce platform.

Disney says that the participants will be provided with investment capital with access to co-working space at the campus in LA and mentor support from the Disney executives, investors, entrepreneurs, and business leaders. The accelerator is open to startups with a vision for impacting the future of the technology and Disney even said that this year’s accelerator class will focus on creating the future of immersive explosions via technologies like augmented reality, NFT, and artificial intelligence. The general manager of the Disney Accelerator Program Bonnie Rosen said:

“For nearly a century, Disney has been at the forefront of leveraging technology to build the entertainment experiences of the future. With our newest class of companies, we look forward to furthering our commitment to innovation and continuing to bring magical experiences to Disney audiences and guests for the next 100 years.”

As recently reported, More than 48 Terra projects started migrating to Polygon two months after the Terra ecosystem crashed with the implosion of the UST stablecoin. Polygon Studios announced a multimillion-dollar fund to help the Terra projects looking to switch and it was ready to pay $20 million to help Terra teams move to the blockchain and continue building products.