Is Disney Getting Into Crypto?

In July 2022, Disney invited Polygon, a layer two blockchain, to join its annual Accelerator program, a business development program for creative companies worldwide.

This was Disney’s first invitation to a blockchain, signaling that Polygon’s blockchain technology will be used in its future digital asset services and products.

This step indicates that Disney and Polygon will likely develop an official agreement to produce blockchain-based assets like NFTs and incorporate cryptocurrencies into Disney’s payment infrastructure.

There’s also a great metaverse ambition here, especially when combined with the other companies selected and Disney’s financial goals. Thus, this Disney Polygon announcement can be considered as a blockchain infrastructure, NFTs, cryptocurrency scalability, and metaverse project for 2023, 2024, and beyond.

What’s The Disney Accelerator Program About?

The class and program of Disney’s 2022 Accelerator are dedicated to the creation of immersive experiences of the future and specialize in technologies such as augmented reality (AR), non-fungible tokens (NFTs), and artificial intelligence (AI) characters. These businesses have been selected for the 2022 Disney Accelerator program:

• Flickplay: is a Web3 social tool that enables users to discover NFTs related to real-world locales that they can experience and share using augmented reality.
• Inworld: It enables the creation of AI-driven, interactive characters for immersive experiences.
• Lockerverse: This is a Web3 platform that enables creators and businesses to make culture-defining stories and provide exclusive access and experiences.
• Obsess: It is an experiential e-commerce platform that allows marketers to build immersive 3D virtual storefronts on their websites and metaverse platforms.
• Polygon: It is a scalable blockchain network that enables corporations and developers to create Web3 experiences.
• Red 6: Red 6 is an augmented reality (AR) firm that has developed a patent-protected headset and interfaces for use in outdoor, high-performance conditions.

The selected firms focus on Web3, AR, AI, creative storytelling, 3D virtual stores, e-commerce, and blockchain. Disney’s narrative and brand—creativity, fun at Disney parks, and the world’s biggest movies and entertainment spectacles—fit these technologies.

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These organizations will partner with Disney to make the Disney park more exciting, high-tech, and imaginative by using AR, AI, and 3D experiences on a large scale. No company has built real-world venues to install and integrate these technologies. Thus, Disney’s in-person experiences will likely combine real-world entertainment with augmented, virtual, and metaverse overlays.

Disney Music Group and Obsess introduced the immersive Disney Music Emporium virtual experience to let fans search, listen to, and buy Disney music. Disney’s entertainment possibilities are just beginning.

Will Polygon And Disney Be A Good Match?

Currently, Polygon is the eleventh largest cryptocurrency/blockchain project by market capitalization, with a valuation of $7.8 billion. Taking into account its technology and position in the cryptocurrency and blockchain ecosystems, it would be a good decision for Disney to form a partnership with Ethereum, judging by its popularity.

Specifically, Polygon is a platform designed intended to support infrastructure development and assist Ethereum in scaling. Its primary component is a versatile, modular framework (Polygon SDK) that enables developers to construct and integrate layer two infrastructures. Therefore, it is layer two that is designed to help scale, allowing for more transactions and network activity.

If Disney and Polygon work on NFTs, transaction times will be fast, gas costs will be low, and scalability will be almost unlimited. This will enable Disney broaden its NFT goals and use Polygon to conduct transactions in 3D settings, metaverse markets, and AR game purchases.

This partnership will also pave the door for Disney to make greater crypto inroads by allowing customers to pay for items with cryptocurrencies such as MATIC, ETH, and USDT. This will allow the Disney Store to significantly raise its revenue.

What Does This Mean For Disney’s Crypto Ambitions?

Currently, Polygon is the eleventh largest cryptocurrency/blockchain project by market capitalization, with a valuation of $7.8 billion. Taking into account its technology and position in the cryptocurrency and blockchain ecosystems, it would be a good decision for Disney to form a partnership with Ethereum, judging by its popularity.

Specifically, Polygon is a platform designed intended to support infrastructure development and assist Ethereum in scaling. Its primary component is a versatile, modular framework (Polygon SDK) that enables developers to construct and integrate layer two infrastructures. Therefore, it is layer two that is designed to help scale, allowing for more transactions and network activity.

Disney and Polygon’s NFTs will have fast transaction speeds, low gas costs, and practically unlimited scalability. Disney may use Polygon to perform 3D, metaverse, and AR gaming transactions with this.

This partnership will also pave the door for Disney to make greater crypto inroads by allowing customers to pay for items with cryptocurrencies such as MATIC, ETH, and USDT. This will allow the Disney Store to significantly raise its revenue.