The Walt Disney Company is announcing plans to support a surging crypto project through its new accelerator program.
Polygon (MATIC) is one of six participants in the 2022 Disney Accelerator class, which will focus, in part, on non-fungible token (NFT) development.
“This year’s Disney Accelerator class is focused on building the future of immersive experiences and specializes in technologies such as augmented reality (AR), non-fungible tokens (NFTs), and artificial intelligence (AI) characters.”
MATIC is a scaling solution that aims to enable the widescale adoption of decentralized apps on the Ethereum (ETH) blockchain.
Polygon is up nearly 20% in the past 24 hours. The 16th-ranked crypto asset by market cap is trading for $0.69 at time of writing.
Crypto analytics firm Santiment, however, cautions MATIC could be due for a retracement soon.
“Be cautious of the fact that average traders are +28% on MATIC in the past 30 days, which is the highest level since October. A cooldown may be required.”
The accelerator offers chosen companies “access to the range of creative expertise and resources of The Walt Disney Company to help them develop new entertainment experiences and products,” according to the program’s website.
The accelerator selection is not the only recent positive news for MATIC. Polygon Studios CEO Ryan Wyatt also said recently that dozens of projects built on the collapsed Terra (LUNA) blockchain are migrating to Polygon.
Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
Check Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/tykcartoon/Sol Invictus