What happened
On Thursday, Disney (DIS +7.60%) made some big waves, announcing the participants in its 2022 Accelerator Program. This program, aimed at growing Disney's market share in the growing non-fungible token (NFT), artificial intelligence (AI), and augmented reality (AR) sectors, actually saw the company bring in a crypto project to partner with.
Polygon (MATIC +0.00%) was the lone crypto participant chosen to take part in this program. Accordingly, Polygon's MATIC token has seen rapid rises over the past two days. As of 11:30 a.m. ET, this token appreciated 7.4% over the past 24 hours alone. Since its weekly low this week, Polygon's cryptocurrency MATIC is up more than 30% at the time of writing.
CRYPTO: MATIC
Key Data Points
So what
It's certainly notable that Disney is making innovation a top priority. The company is loaded with intellectual property and is clearly looking to leverage it however it can, including in ways that many investors may not have envisaged.
Polygon's impressive market share in the world of NFT transactions is undoubtedly one of the key drivers of Disney's choice to bring the team on as participants in its Accelerator Program. For Disney, a company that's looking to grow "immersive experiences" within its portfolio, this partnership appears to make a lot of sense.
Now what
It's unclear exactly how Disney will look to leverage its intellectual property in the worlds of NFTs, AR, and AI. However, it's clear that the company is taking innovation very seriously when it comes to enhancing the company's offerings for a younger generation focused on digital experiences. Accordingly, bringing in experts from a range of sectors makes a lot of sense.
For investors in Polygon, this vote of confidence from Disney is a good thing. Polygon's unique scaling network has enabled the proliferation of low-cost NFT purchases in the crypto sector. For Disney, this appears to be a key selling point, as it is looking to capitalize on projects that make this space affordable for the Disney consumer.
