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MATIC Rises By 15% As Polygon Joins hands with Disney, Can the MATIC Rally Continue?

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Polygon, a scaling solution for Ethereum, has just been selected to participate in Disney’s Accelerator Program to help develop its Web3 experiences. Disney’s Accelerator Program will start this week.

The Walt Disney Company has announced that they will be accepting six projects into their Accelerator Program, which is focused this year on augmented reality (AR), nonfungible tokens (NFTs), and artificial intelligence (AI).

Ryan Watt, CEO of Polygon, told his Twitter followers that Polygon was “the only blockchain selected” to Disney’s prestigious Accelerator program.  

He also tweeted that being selected “speaks volumes to the work being done [at Polygon], and where we’re going as a company.”

The applications for the accelerator program began on April 22 and closed on May 13, 2022. Disney revealed that the company was looking for growth-stage companies with a vision to make an impact on technology and entertainment in tomorrow’s world.

This year we saw two other Web3 projects being accepted, including Flickplay – a web3 app that uses augmented reality (AR) to allow users the chance to discover NFTs. The other one is Lockerverse with its web3 storytelling features which connect creators with brands.

A number of other innovative companies were accepted into the program. Some notable examples include AR firm Red 6, 3D virtual e-commerce site Obsess, and AI-powered character creation service Inworld.

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Polygon (MATIC) Price Action

MATIC, the cryptocurrency that powers Polygon blockchain has seen impressive growth in its value over 24 hours. The price of Polygon’s MATIC has shot up 18% to $0.64, with 24% weekly gains.

MATIC has given a solid breakout in the last 24 hours. The MATIC price has shot up by 18% moving up all the way to $0.64. With this move, Polygon’s MATIC has also extended its weekly gains to 24%.

MATIC has been one of the stronger coins in this year’s crypto market, and it’s showing no signs that will change anytime soon. The value of investors’ wealth has increased by about 50% over the last month.

However, experts have asked investors to maintain caution at this point from building any fresh positions. They predict a cooldown in the near term and advise traders not to make large bets on markets while they’re volatile. The data provider wrote:

#PolygonNetwork has enjoyed a nice +20% price day as #crypto enjoyed a mild pump after #CPI data. 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.

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