Sony and Astar Network Launch Web3 Incubation Program for NFT and DAO-Focused Projects

On Feb. 17, 2023, Tokyo-based Sony Network Communications announced that it is co-hosting a Web3 incubation programme with the multichain astute declaration level Astar Network. The programme has started accepting applications, and Sony and Astar volition jointly mentor Web3 projects “focused connected the utility” of non-fungible tokens (NFTs) and decentralized autonomous organizations (DAOs).

Sony and Astar to Co-Host Web3 Incubation Program

Sony Network Communications, a subsidiary of Japanese exertion elephantine Sony Group, announced Friday that the institution is exploring ways to code manufacture issues utilizing blockchain and Web3 technology. A Web3 incubation programme is planned for mid-March to mid-June with Astar Network and Singapore-based Startale Labs to bolster applicable Web3 solutions. Startale was founded by Astar Network CEO Sota Watanabe.

The announcement sent to Bitcoin.com News states that Sony and the Astar Foundation volition prime “10 to 15 cohorts” from the applications. The programme is unfastened to anyone from astir the world, and sessions volition beryllium hosted by task superior companies specified arsenic Alchemy Ventures, Fenbushi Capital, and Dragonfly. In mid-June, Sony announced that an offline demo time volition beryllium held astatine Sony Group’s office successful Tokyo during Japan Blockchain Week.

“We are pleased to motorboat the Web3 incubation programme with Sony Network Communications, 1 of the Sony Group’s companies, which has been progressive successful the NFT assemblage and different Web3 initiatives wrong the Group,” Sota Watanabe, CEO of Startale Labs and Astar Network, said successful a statement. “We anticipation to stock the cognition and resources of some companies to supply worth to the participants selected for the programme and make caller usage cases and projects.”

Sony has been exploring the metaverse, NFTs, and crypto for some time. In May 2021, the institution unveiled a patent that could alteration it to incorporated a bitcoin-based betting strategy into its user electronics, specified arsenic the Playstation gaming system. In November 2022, Sony filed a patent for utilizing non-fungible token exertion for in-game assets, and that aforesaid month, it acquired the 3D animation institution Beyond Sports.

What bash you deliberation of Sony’s latest determination into the Web3 abstraction and its absorption connected NFTs and DAOs? Share your thoughts successful the comments below.

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