Matic Price Surges 20% After Disney Announcement

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After being selected as one of six accelerators by the media and entertainment giant Disney for its 2022 business development program, Matic, the native coin of the Ethereum layer-2 solutions network Polygon, has surged in its trading volume as high as 25%.

The price of MATIC, as of writing, is currently at $0.713 a token, its highest level in a month. Its price is currently 51% higher versus the last fourteen days, and 70% in the 30d timeframe.

According to Disney, they tapped Polygon, the only blockchain platform of the six, for its scalable properties, allowing developers to build Web3 experiences.

The accelerator program aims to develop new technologies within the metaverse, augmented reality (AR), non-fungible tokens (NFT) and artificial intelligence (AI). Under the guidance of Disney through the senior leadership team, as well as a dedicated executive mentor, the six selected companies will be able to enhance their creativity and imagination.

“For nearly a century, Disney has been at the forefront of leveraging technology to build the entertainment experiences of the future,” said Bonnie Rosen, General Manager of the Disney Accelerator program.

The other five companies chosen as accelerators include Flickplay, a Web3 social app for discovering NFTs tied to real-world locations that can be shared using AR. Interactive, AI-driven character creation platform Inworld joins the list in addition to Lockerverse, a Web3 platform empowering creators to tell culture-defining stories. The final two firms are Obsess and Red 6, both AR hardware companies and will be utilized to create immersive 3D virtual stores in the Metaverse.

“The Disney Accelerator is thrilled to be part of that legacy, and 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,” Rosen said in a statement.

The program will commence this week and conclude with a Demo Day in October at Walt Disney Studios in Burbank, California.

This article is published on BitPinas: Matic Joins Disney Accelerator, Trading Volume Surges

Disclaimer: BitPinas articles and its external content are not financial advice. The team serves to deliver independent, unbiased news to provide information for Philippine-crypto and beyond.

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Shiela Bertillo

    BitPinas is the leading and most trusted blockchain and cryptocurrency news outlet that covers the Philippine blockchain and crypto scene. We are also writing general and international blockchain topics that are relevant to our audience.