Polygon was selected as one of the 2022 participants for Disney’s accelerator program on Wednesday, triggering the project’s cryptocurrency MATIC to rise by more than 15%.

See related article: Aespa, NCT’s SM Entertainment builds metaverse studio Kwangya

Fast facts

• The Walt Disney Company did not announce any of its own crypto projects, but the 2022 accelerator crop will focus on building immersive experiences through technologies such as augmented reality (AR), artificial intelligence (AI), and non-fungible tokens (NFTs), the mass media group said.

• Other participants include Web3 social media app Flickplay, Web3 storytelling platform Lockerverse, augmented reality company Red 6, and virtual e-commerce platform Obsess.

• Formerly known as Matic Network, Polygon is an Ethereum scaling and interoperability platform that allows developers to build scalable decentralized applications (dApps) with low transaction fees.

• Polygon was selected by social media giant Meta for NFT support on Facebook.

• Disney’s accelerator participants will receive investment capital, access to co-working space at Disney’s creative campus in Los Angeles, and mentorship from Disney executives, entrepreneurs, investors and business leaders.

See related article: 81 of top 100 companies use blockchain technology, Blockdata research shows