- July 14, 2022
- Posted by: admin
- Category: BitCoin, Blockchain, Cryptocurrency, Investments
Disney Accelerator is a program that supports collaborations between Disney and “venture-backed, growth-stage start-ups with a vision for making an impact on the future of technology and entertainment.” Each year, it welcomes a new cohort of companies and has chosen three web3 companies to join its program.
The Class of 2022
Polygon has been selected alongside NFT projects Lockerverse and Flickplay. The remaining companies focus on AI, AR, and other metaverse adjacent technologies. Previous members include Epic Games, Kahoot, and
“Disney will continue to work with companies like those in this year’s Accelerator class to help develop new technologies and storytelling canvasses to create connected experiences across physical, digital, and virtual worlds.”
Lockerverse is a pre-revenue start-up focused on helping creators and brands tell stories on web3. Flickplay is an app that allows NFT collectors to create and share videos made with their NFTs through augmented reality.
Disney and blockchain
The Disney Accelerator program was initially aimed at companies needing start-up investment and included a $120,000 grant and a three-month mentorship. However, this year Disney has selected “venture-backed” companies and focused on a desire to partner with the members.
The entire cohort specializes in web three and metaverse technologies, suggesting Disney is looking to move deeper into crypto. In 2021, Disney partnered with VeVe to offer fully licensed NFTs on its platform with its launch of The Simpsons NFTs. The NFTs minted out to the tune of 18,666 generated $7.2 million.
Disney has been in the blockchain game since 2014 when employees created DragonChain, formerly known as the “Disney Private Blockchain Platform.” The blockchain was made open source in 2016 when it became DragonChain. It aims to provide “the serverless ecosystem that allows companies to start using blockchain applications in an easy, private, and secure way.”
The chain launched through an ICO in 2017, reaching an all-time high of $5.11 but now trades at just $0.18 per token. There has been no indication that Disney intends to collaborate with DragonChain.
Polygon vs. Immutable X
Polygon is a scaling side-chain solution for Ethereum that has seen adoption by other web2 giants such as Meta. Disney’s current NFTs exist on the Ecomi ($OMI) ecosystem used in the VeVe app. Ecomi moved to Ethereum through Immutable X, built on top of StarkWare’s L2 solution.
Immutable X and Polygon are in direct competition, with Immutable X focusing on NFTs and web3 gaming.
It will be interesting to see how Disney looks to move into the metaverse, NFTs, and other aspects of web3.
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