Polygon has announced that it has been selected to participate in Disney’s upcoming accelerator program. The Ethereum scaling solution is one of only six companies that the entertainment behemoth has selected to be part of the new program.
The project’s participation in the accelerator program will help Polygon’s development of Web3 experiences.
The Disney Accelerator Program
Polygon will be participating in Disney’s 2022 Accelerator Program, which will see the project build on Polygon’s web3 technology. The accelerator program is set to commence this week, and Polygon is one of only six projects that have been accepted into it. This year, the accelerator program will focus on augmented reality (AR), non-fungible tokens (NFTs), and artificial intelligence (AI), a statement released by the Walt Disney company stated.
Polygon The Only Blockchain Selected
Polygon was the only blockchain selected for the prestigious accelerator program, with CEO Ryan Watt understandably pleased about the selection. The Polygon CEO took to Twitter to announce the news, stating,
“The hits keep on comin’! @0xPolygon has been invited to @Disney’s prestigious Accelerator program. We were the only blockchain selected. It speaks volumes to the work being done here, and where we’re going as a company.”
He also stated that Polygon’s selection to the accelerator program was a testament to the work being done at Polygon and where it is going as a company.
Polygon is a blockchain focused on interoperability, offering users a host of scalability tools that can be utilized to create decentralized applications compatible with Ethereum. It offers a host of scalability solutions designed explicitly to address the issues facing the Ethereum mainnet, which primarily revolve around high transaction fees and slow transaction speeds.
Other Participants In The Accelerator Program
Apart from Polygon, there were several other participants chosen for the program. Two other web3-focused companies were chosen this year: Flickplay and Lockerverse. Flickplay is a web3 application that allows users to discover new NFTs through augmented reality. On the other hand, Lockerverse is a web3 storytelling platform connecting brands and creators.
Other companies participating in the accelerator program are Red 6, 3D virtual e-commerce company Obsess, and Inworld, an AI-powered virtual character creation company.
Details About The Accelerator Program
Disney’s accelerator program was launched in 2014 and allows chosen participants to receive mentorship from Disney’s accelerator team. The participants also receive guidance from Disney’s leadership team. Companies participating in the program will also receive additional investment capital and have access to the Walt Disney Camus in Los Angeles and the co-working space there. The program will conclude with an on-campus demo.
Increased Activity Around Polygon
Polygon has been rather busy, and part of the reason for it is the fallout of the Terra debacle. Post its collapse. The Terra blockchain has seen a mass exodus as projects leave the Terra network in droves. One of the biggest beneficiaries of this exodus is Polygon, which has seen around 48 projects migrate to its blockchain from Terra. This was confirmed by Polygon CEO Ryan Watt, who stated that Polygon is working to ensure seamless migration to the blockchain, providing whatever resources are needed to support the transition.
Recently Polygon had also announced a partnership with phone maker Nothing, as it looks to bring web3 technology to mobile users. The partnership will see the upcoming Nothing Phone integrate Polygon’s technology and give users access to payments, games, decentralized applications, and much more.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.