Sony Entertainment Reveals a New Incubator Program Centered on Web3
In Brief
Sony collaborates with Astar and Startale Labs to kickstart an incubator program that concentrates on web3.
The demo day is scheduled for June 18 and will occur in Tokyo as well as the metaverse.
The Japanese technology leader Sony joins forces with blockchain company Astar and web3 specialist Startale Labs to launch a new incubator initiative. This program will be spearheaded by Sony Network Communications, a subsidiary that specializes in software development, with the metaverse platform Cosmize serving as the incubator's base.
As part of the initiative, Sony has invited 200 startups from around the globe to apply. After a thorough selection process, 19 companies have been chosen to participate, all of which are currently in developmental stages. Reports suggest that Sony intends to invest in each of these firms.
On June 18, the selected startups will showcase their groundbreaking projects during a 'demo day' in both Tokyo and the metaverse. This event provides them an opportunity to attract investors. The metaverse component will be hosted within a virtual environment created by one of the incubator's participants. Snickerdoodle Labs, another startup taking part, will also distribute NFT tickets for this occasion.
The conference will feature various mentoring sessions focused on technology and business strategies. Moreover, attendees will have the chance to network with venture capitalists and receive backing from Sony Network Communications.
Sony's latest incubator initiative could represent a pivotal advancement toward immersive experiences. This endeavor is not the company's first excursion into the web3 space; in April 2022, the tech giant partnered with KIRKBI, the parent company of LEGO, to invest $2 billion into Epic Games, the notable creator of Fortnite, targeting the development of a 'family-friendly' metaverse aimed at children. partnered In September 2022, Sony Music Entertainment followed up on this trajectory by applying for NFT and metaverse-related trademarks for the Columbia Records logo. Then, in March this year, Sony Interactive Entertainment Inc. filed a patent for what they call the 'NFT Framework For Transferring And Using Digital Assets Between Game Platforms,' suggesting that they might soon incorporate transferable non-fungible tokens into their gaming products and the PlayStation system.
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In line with the Trust Project guidelines Valeria holds a Master's degree in Public Communications and is currently pursuing a second Major in International Business Management. In her spare time, she enjoys photography and fashion styling. At just 13 years old, she launched her first fashion blog, igniting her passion for journalism and style.
