Matic Disney Collab: Why Polygon for Accelerator 2022?
The Matic token has been one of the few cryptocurrencies in recovery since May 2022 in the bearish crypto market. One primary reason behind it is the Polygon news confirming the Matic Disney collaboration for the Disney 2022 Accelerator Program.
Since then, the token has seen some positive price action. It currently trades at $0.742, according to per CoinMarketCap. Though the token gained momentum after the news, its value is still less than USD.
Many are curious why Disney prioritised Polygon tokens over other high-performing ones. Let's take a look at the reasons Disney preferred Matic!
What is the Accelerator Program?
Walt Disney Co. runs business development and mentorship programs for tech startups. It is aimed at funding and mentoring six innovative firms. The entertainment giant selects the firms based on their potential to thrive in the entertainment industry. The initiative takes place in summer each year. This year, it also started in July and will conclude in October.
Part of the plan for the Disney Accelerator programme is to build immersive experiences with Augmented Reality (AR) tech and create AI-based character NFTs. For this reason, Matic's team is also part of this year's mentorship initiative.
Alongside Matic, Disney will work with five other AR, AI, and web3-based companies. These include; FlickPlay, Red 6, Obsess, Inworld, and Lockerverse. Polygon is the only cryptocurrency firm to be part of this program.
Four reasons why Matic and Disney teamed up for Accelerator
Let's examine why Polygon is the ideal selection for the Accelerator!
- Scalable network for web3 projects
One primary reason behind the popularity of the Polygon network is its scalability. It is a layer-2 solution for Ethereum which can support scalable web3 projects. Besides being an Ethereum Virtual Machine (EVM), it provides formidable security.
The network offers an array of Ethereum solutions, which developers can use for varying needs. From PoS to the open-source EVM, all are impressive scalable solutions.
- A cost-effective option for NFTs and GameFi
The Matic network costs are also on the lower side. It is the prime factor behind the Matic Disney union. As the entertainment platform is seeking its place in the non-fungible token NFT market, it can be pretty helpful. The firm can leverage the Matic blockchain to turn its famous characters into NFTs. And the low transaction fee can be a crucial selling point to entice the audience.
Similarly, this feature can also be quite helpful in developing blockchain-based games. Polygon ecosystem has a variety of GameFi projects. These include notable games like Voxies, Rebel Bots, Pegaxy, Crypto Raiders, and others.
- Polygon's alliance with other key players
The Matic Disney collab for the Accelerator program is not the only impactful partnership this protocol has. It enjoys alliances with many other key players in the industry, including one of the most impactful alliances with the social media and Metaverse giant Meta. Mark Zuckerberg's company recently rolled out a cross-posting feature using Polygon.
Also, one of the largest NFT marketplaces, OpenSea, integrates with Matic NFTs. Meanwhile, other noteworthy names include Reddit, Robinhood exchange, and Stripe partner with the Matic network. Which suggests it is a growing blockchain company in the industry.
- Diverse ecosystem
Another reason Disney selected Matic for its Accelerator program is its complete and diverse network. It can be an ideal platform for various Decentralised Applications (DApps). Its suite has numerous solutions designed for developers' ease of integration. The ecosystem can support NFTs, GameFi, and other DeFi projects that align with the needs of Disney.
How beneficial will the Matic Disney union be?
For Matic, the Disney partnership means growth. The short-term gains are already quite evident. Before this announcement, the token was traded at only $0.4 starting in July.
However, in mid-July, it started gaining positive momentum as the price approached $0.6. The price then appreciated to over $1 in August. And now its price has decreased to $0.75. Nonetheless, this is commendable as the crypto market is going through a severe winter. Moreover, it positions the crypto well for future gains.
The prospects also look pretty exciting for the blockchain. It may unlock an opportunity of turning Disney World's characters into live NFTs. Moreover, it may lead to creating a Disneyland Metaverse, where the audience can enjoy an AR-based immersive environment. It will likely introduce the Polygon network to a prominent entertainment industry audience.
Author: Wasay Ali
I'm a content writer with adequate SEO knowledge. My hobby is to exercise, read and write. My writing experience currently expands to 2 years and I’ve worked on multiple niches, including finance. My versatility and research skills make me the best at what I do: content & SEO writing. I love writing because it pitches in and helps me learn new things daily.