Polygon Crypto Jumps on Disney Selection for Accelerator Program

Polygon’s MATIC token jumped after Walt Disney Co. chose it for a business-development accelerator program.

MATIC was 1.3% higher Friday morning in Asia after surging 21% on Thursday in the wake of Disney’s announcement that Polygon was one of six companies selected. Read more on Disney’s venture into the metaverse here.

“The implications for Polygon are significant, given that it was the only blockchain provider chosen,” Walter Teng, digital-asset strategy associate at Fundstrat, wrote in a note Thursday. Since Disney “hasn’t invested or built an in-house crypto solution, the accelerator marks its foray into the digital-asset space.”