Polygon’s MATIC soars after partnership with Disney
The price of the MATIC token on the Polygon network has jumped more than 20% and is now at $0.62. This came after the Walt Disney Company announced a partnership with Polygon Studios.
As CriptoFácil reported, Disney invited Polygon to participate in the Disney Accelerator, a business development program. The idea of the project is to “accelerate the growth of innovative companies around the world”.
This year, the program focuses on the metaverse, the NFTs, as well as immersive experiences such as Augmented Reality (AR) and Artificial Intelligence (AI).
Polygon is a layer 2 scalability solution for the Ethereum (ETH) network. It provides users with quick transactions at low cost. Furthermore, it acts as a parallel network running alongside the main ETH network. MATIC is the native token of the Polygon network, used to pay transaction fees, staking and governance proposals.
Polygon is the big choice
According to Disney’s announcement, all companies participating in its program will receive guidance from the company. The program will conclude with a Demo Day at Walt Disney Studios in California.
As Bonnie Rosen, the program’s general manager, highlighted, the company is at the forefront of technology:
“For nearly a century, Disney has been at the forefront of using technology to build entertainment experiences,” he said.
Shortly after the announcement, MATIC trading jumped according to data from CoinMarketCap. The token was one of the most traded assets in the last 24 hours, surpassing even Ether. This also boosted its price which has risen more than 20% since the announcement.
Polygon NFTs on Facebook
Also involved with NFTs and Polygon is Meta. Earlier this month, the company started supporting NFT to select US users. The company is rolling out Ethereum and Polygon-based NFTs to a small number of users.
The report mentions that Facebook users will be able to connect their cryptocurrency wallets to their profiles. Also, they can turn their NFTs into social media posts, which can have interactions.
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