Crypto: Disney bets on Mark Cuban Protege
Walt Disney Media and Entertainment Conglomerate ( (HAZE) – Get The Walt Disney Company Report) has long been impenetrable to buzzwords metaverse, NFT and crypto.
When most companies jumped into this crypto galaxy of new technology in 2021 with their eyes closed, the group kept their distance, preferring to look far from the wave that seemed to overwhelm companies of all sizes.
However, the company is a natural destination for these technologies that promise an immersive alternative world where we interact through avatars and with hardware as a virtual reality headset. Disney has theme parks, a movie studio, TV channels (ABC, ESPN …) a streaming platform (Disney +), iconic characters like Mickey Mouse.
And last but not least, the Disney brand is famous all over the world. So there is no need to introduce it to new audiences, making it the perfect partner for the cryptosphere that wants to democratize financial services and internet services. The crypto industry really wants to be unlicensed and borderless. The industry wants to appeal to everyone and give everyone the opportunity, no matter where they are, regardless of background, to participate in this new world.
It is at a time when the young industry is going through a unique crisis of confidence that Disney decides to take the plunge. Unlike other companies, the media giant will go into it in an organized way, through the business development program called Disney Accelerator launched in 2014.
For the 2022 edition of this program, Disney has selected six companies that are all involved in technologies that provide immersive experiences or the meta-verse.
“This year’s Disney Accelerator class is focused on building the future of immersive experiences and specializes in technologies such as augmented reality (AR), non-fungible tokens (NFT) and artificial intelligence (AI) characters,” the company announced in a press release. release.
Featured companies include Flickplay, a Web3 social app that lets users discover non-fungible tokens (NFTs) related to real-world locations that they can experience and share via AR.
Web3 is a new iteration of the World Wide Web based on blockchain technology, which will replace today’s internet web2. This will give users control over their data.
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Disney has also chosen Inworld, a platform that allows users to create interactive, artificial intelligence-driven characters for immersive experiences; Lockerverse which is a Web3 platform that gives creators and brands tools to tell culture-defining stories; Obsess that helps brands create immersive virtual 3D stores on their websites and on metaverse platforms; Red 6, a company that makes a headset that can be used to provide AR experiences outdoors.
Disney increases MATIC Cryptocurrency
Finally, Disney chose Polygon, a platform that builds a sustainable Web3 infrastructure on the best smart contract platform Ethereum. Most NFTs and decentralized financial applications (financial services without intermediaries) are created on Ethereum.
Polygon has been on the rise for a few months. The platform has a partnership with Coca-Cola ( (QUEUE) – Get Coca-Cola Company (The) Report), which released a pride series NFT collection on the network. Social media Reddit, another partner, recently said they were launching an NFT marketplace on the Polygon platform.
Like most blockchain platforms, Polygon has its original token, MATIC. Disney’s announcement sent MATIC awards to heaven. The cryptocurrency is up 28% since this announcement. Investors’ calculations are that Disney’s support will expose Polygon and MATIC to a large number of users, which is likely to accelerate their adoption by the general public.
“The implications for Polygon are significant, given that it was the only blockchain provider chosen,” wrote Walter Teng, Fundstrat’s Digital Asset Strategy Officer, in a note. He added that Disney still “has not invested or built an internal crypto solution, the accelerator marks its entry into the realm of digital assets.”
Polygon was co-founded by software developer Sandeep Nailwal, whose mentor is billionaire Mark Cuban. Cuban is also an investor in Polygon.
“With our latest class of companies, we look forward to continuing our commitment to innovation and continuing to bring magical experiences to Disney audiences and guests for the next 100 years,” said Bonnie Rosen, general manager of the Disney Accelerator program.
Each participating company receives a dedicated executive mentor.
Disney’s development program has previously included Epic Games, the maker of the very famous and popular video game Fortnite.
