Polygon (MATIC) started to rise on Monday morning after announcing a collaborative effort with Alpha Venture DAO and Icetea Labs to launch the inaugural Icetea Labs Accelerator Program for blockchain startups.
Along with the partnership announcement, Polygon Developers tweeted: Six startups were launched in Icetea Labs’ accelerator program powered by Polygon.
The Polygon (MATIC) price increased shortly after the announcement to $0.775263, up more than 5.0% from the previous day. In the past 24 hours, its trading volume has also increased by about 5.39%, according to data from CoinMarketCap.
On September 11th, according to Nomics Data, MATIC’s price began to drop steadily as it did with the rest of the crypto market. Trade volume was also low – decreasing from $1.29 billion on September 12th to $496.70 million on September 16th, while prices varied from $0.804935 to $0.691834
However, the token’s price began to increase slowly after September 20th. According to CoinMarketCap, the preceding week showed an improvement of 3.8%. The cost increased from $0.728306 on September 25th due to this new partnership.
Polygon (MATIC) Accelerator Program
Alpha Venture DAO is a collaborative-owned company in Southeast Asia that supports startups looking to succeed under the umbrella of Web3. Icetea Labs also acts as an incubator that helps nurture new projects through their research stage.
According to Polygon Developers, this three-part partnership will launch an accelerator program that will focus on mentorship, education, and business skills for promising Web3 startups in need of resources like funding and human capital from other successful startups already operating in this field.
They further claim that selected firms would receive intense training for eight weeks—a brief analysis of the stats for the first 250 applications to the accelerator. 73,000 people cast votes, with a 2% acceptance rate.
The projects in the inaugural cohort of the Icetea Labs Accelerator Program are also mentioned in the tweet’s comment section. The first project is Victory Point, and it’s a free-to-play, first- and third-person, AAA multiplayer shooter with P2E features built using Unreal Engine 5.
The second one is Trouble Punk | Cyber Gals, a battle royale-style online action game that prioritizes fun and captivating storylines. Gamers without tokens or Non-Fungible Tokens (NFT) can play in Free To Play (F2P).
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