Sony Network Communications Joins Forces with Astar to Unveil Web3 Incubation Initiative

Sony Network Communications, part of the Sony Group family, has partnered with the Astar multi-chain smart contract platform to introduce an exciting web3 incubation initiative.

As outlined in a recent press release, the incubation initiative will be managed by Startale Labs, a company based in Singapore that specializes in dApps and infrastructure while also offering consulting services through its knowledge in multi-chain development.

Scheduled to run from mid-March to mid-June of this year, the program aims to nurture web3 startups worldwide, irrespective of their current development stages. Participants can expect sessions led by top-tier web3 firms and VC companies like Dragonfly and Fenbushi Capital, as well as strategic sessions that tap into Astar’s expertise in development, consulting, and R&D.

Through this incubation initiative, startups will gain direct access to invaluable feedback and connections with leading web3 industry players, including Web3 Foundation, Polkadot, and Alchemy. Furthermore, Sony may explore investment opportunities in standout startups from the program.

During the application window, which runs from February 17 to March 6, Sony plans to finalize the selection of 10-15 participating teams, culminating in a demo day set for June 18 at the headquarters of Sony Group Corporation in Tokyo, coinciding with Japan Blockchain Week. Approximately 200 individuals, including participating companies and investors, are expected to attend.

“We are pleased to launch the web3 incubation program This partnership with Sony Network Communications, which is actively engaged in the NFT domain and various web3 endeavors as part of the Sony Group, aims to combine the strengths and resources of both entities for the benefit of the chosen participants, fostering the creation of innovative projects and real-world use cases,” stated Sota Watanabe, CEO of Startale Labs.

Over the past year, Sony and its various subsidiaries have ramped up their efforts in the web3 landscape. Last April, for instance, Sony Network Communications formed a partnership with the creative studio Sun Asterisk to initiate a business in Singapore focused on contract development and consultancy for NFT projects.

Additionally, Sony Music, another arm of the Sony Group, supported NFT marketplace MakersPlace through a funding round totaling $30 million. Sony Group also contributed a remarkable $250 million to Epic Games during their $2 billion fundraising campaign aimed at metaverse projects. invested Moreover, Sony collaborated with Theta to launch innovative 3D NFTs that are compatible with Sony’s Spatial Reality Device (SRD). In November 2022, Sony’s PlayStation unveiled a new initiative utilizing blockchain technology and NFTs for monitoring in-game assets. That same month, the renowned Japanese conglomerate introduced a mobile motion capture kit, empowering users to craft videos or manage avatars in real-time for metaverse applications such as VR Chat.

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