The program this year focuses on building the metaverse and augmented reality.
The Walt Disney Company has not yet made any cryptocurrency plays. It now has several crypto companies in its accelerator program.
Disney announced Wednesday the 2022 participants in its accelerator program. Polygon, a leading Web3 company, is one of them.
The Polygon account tweeted, “Raise your hands if your first Disney experience was like yesterday.” A link to the official announcement was also provided by the Polygon account. “We are thrilled to announce that Polygon was selected to participate in the Disney Accelerator program.”
In an earlier tweet, the project stated that it was also “the only blockchain chosen” to participate in the program. However, it’s not clear how many other applicants were or were being considered.
Formerly known under the name Matic Network, Polygon was rebranded in 2021. It is a scaling framework and interoperability platform for building Ethereum-compatible Blockchains. This framework aims to address some of Ethereum’s major limitations like limited throughput and poor user experiences.
Polygon is joined by Web3 social media app Flickplay and Inworld’s artificial intelligence platform Inworld. Web3 storytelling platform Lockerverse, Red 6’s augmented reality company, and Obsess, an experimental e-commerce platform, are also in the class. This week, the program will begin.
Disney promises that participants will receive investment capital, co-working space on the entertainment giant’s creative campus, Los Angeles, mentor support, guidance, and mentoring from executives from Disney, entrepreneurs, investors, business leaders, and others from the entertainment and tech fields.
Venture-backed startups at growth stage are eligible to apply for the accelerator. They must have a vision of how technology and entertainment will change. Disney states that the accelerator class for this year will be focused on creating immersive experiences using technologies such as augmented reality (AR) and artificial intelligence (AI).
NFTs, which are tokens based on blockchain technology that allow you to show ownership of digital or physical assets, can be used as a way to do this.
In a statement, Bonnie Rosen, General Manager for the Disney Accelerator program stated that Disney has been “at the forefront” of using technology to create the entertainment experiences of tomorrow for nearly 100 years. “With our new class of companies, I look forward to continuing our innovation commitment and bringing magical experiences to Disney guests and audiences for the next 100 year.”