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All indicators point to Disney’s vested interest in NFTs and Web3. The choice of companies also serves to underline this fact.
Walt Disney has selected Polygon as one of six companies to participate in its 2022 Disney Accelerator Program. A blog post published by the entertainment company revealed this. The other five companies are Flickpay, Inworld, Lockerverse, Obsess, and Red 6.
The team will focus on incorporating augmented reality (AR), non-fungible tokens (NFTs), and artificial intelligence (AI) characters. According to the post, Polygon is the only blockchain ecosystem immersive experience selected to be part of the program.
The CEO of Polygon reiterated this via Twitter. He said:
“It speaks volumes to the work being done here and where we’re going as a company.”
While Walt Disney did not suggest the same, there were indications that Polygon came on board because of its work in the web3 space.
Following the announcement, the price of MATIC, Polygon’s native token, rose by 14.4%. At the time of writing, it was trading at $0.635, according to CoinMarketCap.
Disney Accelerator Program in Tandem with Company Mission
The Disney Accelerator program aims to empower innovations. General Manager, Bonnie Rosen, stated that the accelerator program aligns with the company’s mission. Before this time, Disney deploys technology in building futuristic entertainment experiences.
“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.”
While the program starts this week, the program will conclude by Demo Day at the Walt Studios. During that time, selected companies will have access to Disney’s top executives. Participating companies can also access investment capital, co-working spaces and ongoing mentorship. Again, it merits noting that companies who generate intellectual properties during the program will retain their IPs.
Disney for Web3
All indicators point to Disney’s vested interest in NFTs and Web3. The choice of companies also serves to underline this fact. While three listed companies focus on AR and VR, two are involved with NFTs. Likewise, Disney has been releasing different NFT collections in partnership with Veve since 2021.
Again, Former Disney CEO Bob Iger, asserted that there is an extraordinary opportunity for Disney in NFTs due to the vast possibility of intellectual properties in the space.