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Polygon (MATIC) Price Rallies 25% on This Crucial Announcement


u.today 14 July 2022 11:46, UTC
Reading time: ~2 m

MATIC, a core native utility and governance asset of EVM-compatible blockchain heavyweight Polygon (formerly Matic Network) outperformed all competitors in the last 24 hours.

Polygon joins Disney Accelerator, MATIC jumps from $0.5 to $0.65

According to the official announcement shared by its team on Twitter, Polygon Network (MATIC) is going to join the Disney Accelerator program.

Raise your hand if you remember your first Disney experience like it was yesterday 🙋🏻‍♀️ #disneyfeels

We are excited to announce that Polygon has been chosen to be a part of the Disney Accelerator program 🎉https://t.co/hk6gZziy8X

— Polygon - MATIC 💚 (@0xPolygon) July 13, 2022

Helmed by The Walt Disney Company, Disney Accelerator is the largest business development program designed to accelerate the growth of cutting-edge entertainment companies across the globe.

In 2022, the program is focused on use cases that involve augmented reality (AR), non-fungible tokens (NFTs) and artificial intelligence (AI).

Polygon jumps 25%

MATIC, Polygon's token, immediately reacted to the announcement. The MATIC price added over 25% in less than seven hours, revisiting a five-week high over $0.65.

MATIC becomes top-performing large cap

By press time, the price of MATIC slightly dropped; it is changing hands at $0.625 on major spot trading platforms. However, it still remains the top performing coin among all large-cap altcoins.

The Disney Accelerator program is set to start this week. Polygon Network (MATIC) will be accompanied there by Flickplay and Lockerverse Web3 social apps, AI start-ups InVerse and Obsess and AR innovators Red 6.

As covered by U.Today previously, the Polygon (MATIC) price was catalyzed by integration with fintech heavyweight Robinhood and the upcoming launch of Reddit's NFT marketplace.

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