Sony Network Communications Inc. and multi-chain smart contract platform Astar Network are co-hosting a Web3 Incubation Program. The program will support initiatives in Web3 that augment the practical applications of non-fungible tokens (NFTs)and decentralized autonomous organizations (DAOs).
A press release mentioned that Singapore-based Startale Labs, founded by Sota Watanabe, the chief executive of Astar Network, will organize the Web3 Incubation Program, from mid-March to mid-June 2023. Applications were opened on February 17 and will be closed on March 6 for candidates around the world. Global venture capital firms including Dragonfly, Fenbushi Capital and Alchemy Venture will provide learning sessions.
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A press release also said that Sony Network Communications aimed to explore “how blockchain technology” could be used to solve problems that arose in their industry. It also mentioned that the company might invest in projects in the program.
Sota Watanabe, the CEO of Startale Labs and Astar Network said that they were pleased to launch the Web3 incubation program with Sony Network Communications which was described as the company with the Sony Group that is involved in NFTs and Web3 initiatives.
The CEO also mentioned that both the companies hoped to share their knowledge and resources with the participants who would be selected for the Web3 incubation program and hoped that new use cases and projects would be created by the participants of the program.
Sony Network Communications and Astar Network will provide educational seminars, technical help and financial backing. In mid-June, Sony Group headquarters in Tokyo will host an offline demo day, at Japan Blockchain Week.
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Astar Network has partnerships with several leading corporations. In January, it launched a Web3 hackathon with leading automaker Toyota. The network is one of the first Para chains on the Polkadot ecosystem. Astar Network’s “Asia Strategy” has resulted in partnerships with three giant Japanese companies–Sony, Toyota and NTT Docomo.
In November 2022, Sony ventured into Web3 after the announcement of a motion-tracking Metaverse wearable called Moopi.
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