Here are the complete updates on Disney that has selected Polygon to take part in its accelerator program. To know more about this topic please read the full article.
- Disney will serve as Polygon’s leader and mentor.
- A platform for scaling and interoperability for Ethereum is called Polygon.
- Walt Disney made no mention of any of its own cryptocurrency initiatives.
Ethereum scaling solution with layer-2 This year, six businesses, including Polygon, will participate in Disney’s accelerator program. Disney will support the program by offering a committed mentor and leadership advice.
The Demo Day at Walt Disney Studios in Burbank, California, will also be attended by each participant. Polygon was “the only blockchain selected,” according to Ryan Watt, CEO of Polygon Studios, to participate in the experiment. This “speaks volumes to the work being done [at Polygon] and where we’re going as a company,” the speaker continued.
Polygon is not just the sole blockchain chosen, but it is also a well-known blockchain project in and of itself. With a $5.17 billion market cap, the company’s MATIC token is now the 16th-largest cryptocurrency available (roughly Rs. 41,385 crores).
Disney did not explain its interest in Polygon, but it did call attention to its Web 3 capabilities, which imply that it can incorporate cryptocurrency transactions with websites.
Wald Disney: Two Further Blockchain-Related Businesses were chosen.
The accelerator will also include participation from Lockerverse, an online e-commerce platform that has registered trademarks connected to NFTs, and Flickplay, a social media network for video NFTs.
Disney is obviously interested in NFTs, even though there is no sign that their efforts will lead to a long-term partnership. Since 2021, the business has produced a number of NFT lines in collaboration with the online marketplace for digital collectibles called Veve.
Additionally, due to Disney’s extensive portfolio of intellectual rights, former Disney CEO Bob Iger asserted that NFTs hold “exceptional” potential for the company.
Participants will receive investment funding, access to co-working space at the Hollywood-based entertainment giant’s creative campus, and mentorship from Disney executives, entrepreneurs, investors, and industry experts in the entertainment and technology sectors, according to Disney. The accelerator is available to growth-stage firms that have received venture capital funding and have a goal of influencing the direction of technology and entertainment.
According to reports, participants would also receive additional funding for investments and have access to co-working space at Walt Disney’s Los Angeles campus. A Demo Day on campus will wrap out the curriculum.
An interoperability-focused blockchain framework called Polygon, formerly known as the Matic Network, is used to create decentralized apps that are interoperable with Ethereum (DApps). In order to overcome the drawbacks of the Ethereum main net, such as the poor transaction speed (TPS) and hefty transaction fees, Polygon has developed scalability solutions.
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