Disney 2022 Accelerator Sends This Ethereum Layer 2 Crypto Soaring 20%

Ethereum ETH/USD scaling solution Polygon MATIC/USD joined five other companies in Walt Disney Co DIS 2022 Disney Accelerator program.

What Happened: In an announcement on July 13, Disney named Polygon in its Accelerator class that will build the “future of immersive experiences” in augmented reality (AR), non-fungible tokens (NFTs), and artificial intelligence (AI).


Each participating company will receive guidance from Disney’s senior leadership team as well as a dedicated executive mentor.

Polygon’s native token MATIC rallied 23% following the news, from an intra-day low of $0.52 to $0.65 as per data from Benzinga Pro.

Polygon is a popular Ethereum Layer 2 scaling solution that boasts transaction speeds of over 65,000 transactions per second. The blockchain project is backed by Binance and Coinbase Global Inc COIN.

Last year, billionaire investor Mark Cuban revealed an investment in the Layer 2 solution, saying that apart from Ethereum and Bitcoin BTC/USD, Polygon was “destroying everybody else.”

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Photo via Voar CC on Shutterstock

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