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Polygon chosen to take part in Disney’s 2022 Accelerator Program

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Layer-2 scaling platform Polygon has been chosen to partake in Disney’s 2022 Accelerator Program to construct on Polygon’s web3 know-how, which is able to start this week.

The Ethereum scaling platform is certainly one of six tasks to be accepted into the Accerator Program, which is targeted this 12 months on augmented actuality (AR), non-fungible tokens (NFTs) and synthetic intelligence (AI), based on a assertion from The Walt Disney Company on July 13.

Polygon CEO Ryan Watt famous on Wednesday that Polygon was “the only blockchain selected” to Disney’s prestigious Accelerator program.

He added that being chosen “speaks volumes to the work being done [at Polygon], and where we’re going as a company.”

Applications for the accelerator program started on April 22, with purposes closed on May 13, 2022. At the time, Disney stated the accelerator could be seeking to entice “growth-stage companies with a vision for making an impact on the future of technology and entertainment.”

Two different Web3 tasks have been chosen this 12 months as properly, together with Flickplay, a web3 utility that enables customers to find non-fungible tokens (NFTs) by way of augmented actuality (AR) and Lockerverse, web3 storytelling platform that connects creators and types.

Other firms embody AR firm Red 6, 3D digital ecommerce firm Obsess and AI-powered digital character creation firm Inworld.

Disney’s accelerator program was first launched in 2014, this system permits members to obtain mentorship from the Disney Accelerator Team and steerage from Disney’s personal management staff itself.

Participants will reportedly even be supplied with extra funding capital and have entry to co-working house at Walt Disney’s Los Angeles campus. The program will conclude with an on-campus Demo Day.

Polygon, as soon as referred to as the Matic Network, is an interoperability-focused blockchain framework with a collection of scalability instruments used to construct Ethereum suitable decentralized purposes (DApps). Polygon’s scalability options have been constructed to deal with the constraints of the Ethereum Mainnet, corresponding to sluggish transaction pace (TPS) and excessive transaction charges.

Related: Even with Ethereum 2.0 underway, L2 scaling continues to be key to DeFi’s future

Following the information, Polygon’s native token MATIC elevated 16% during the last 24 hours.