Sony, Astar Network confirm blockchain ambitions with launch of Web3 incubation program
Technology giant Sony (NASDAQ: SNEJF) has announced that it will launch a Web3 incubation program with the Astar Network for new firms in the industry to “provide large-scale and comprehensive support.”
The incubation program will be run by Singapore-based Startale Labs and will last for three months, from March to June 2023. Astar Network’s website shows that the joint program is open to firms worldwide without geographic restrictions.
Applications for a place in the program are expected to last for a month, with the key requirement for businesses to build around blockchain technology. Web3 startups in both early and late stages of growth are encouraged to apply with the incubation program which offers a number of benefits to the selected firms.
Sony and Astar Network confirm they will be keen to select between 10-15 firms for the initiative, with March 6 as the last day for applications.
“During the incubation program, we will offer sessions with global VCs and online companies, guidance on business and technology strategies, and matching with resources from the Sony group,” read a post on Astar Network’s website.
Successful applicants will receive direct connections with leading Web3 firms such as Alchemy (NASDAQ: ALMY ) and Polkadot (NASDAQ: PDOTN-USD ) while accessing technical and financial support from both Sony and Astar. At the end of the three-month incubation period, promising projects will collaborate on a Proof of Concept (PoC) with Sony.
A demo day will be held at Sony Group Corporation’s headquarters in Tokyo, with approximately 200 people from the selected startups in attendance.
Sony’s inexorable march into Web3
Sony’s recent moves indicate that the tech firm is leaning towards blockchain and Web3. In November 2022, Sony’s Playstation applied for a patent on blockchain-based in-game assets, suggesting that gaming could be one of the main drivers of the company’s push into Web3.
Other departments are also moving to Web3, with Sony Music supporting the release of non-fungible tokens (NFTs) linked to American music legend Bob Dylan. Sony Pictures, the film arm of the tech conglomerate, is also moving forward with a planned launch for NFTs for Batman.
Sony partnered with Theta Labs for the launch of 3D NFTs that will be compatible with the Sony Spatial Reality Display (SRD) amid probes in a potential expansion into the metaverse and virtual worlds.
See: Web3 and BSV Blockchain
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