Sony, a global entertainment conglomerate, has unveiled a collaboration with Astar Network, a blockchain innovation hub, to initiate the Web3 Incubation Program. The program is designed to promote relevant technologies and assist burgeoning startups in establishing a foothold in the industry.
Detailing the incubation program
Starting on February 17, the program will be open for applications and will span three months, running from mid-March to mid-June. The program will consist of 10 to 15 cohorts, with organization overseen by Startale Labs, a company based in Singapore that was founded by Astar Network CEO Sota Watanabe.
Startale Labs is responsible for developing essential decentralized applications (dApps) and infrastructure such as wallets, lending platforms, and NFT marketplaces for Astar’s WebAssembly (WASM) environment. The company acts as a gateway for large enterprises to connect with Astar Network and provides business consulting services leveraging their proficiency in multi-chain protocol development.
The main goal of the Web3 Incubation Program is to transform potential concepts into workable minimum viable products, regardless of their current phase in the Web3 startup process. This initiative specifically focuses on supporting candidates who are developing projects in DeFi, Web3 gaming & metaverse, and infrastructure sectors, while utilizing Astar Network’s ecosystem to provide them with additional support.
When accepted into the program, the selected candidates will receive further business strategy and technical support from Startale. This support will utilize Astar’s development, previous consulting, and R&D business knowledge.
The program additionally features educational sessions and workshops in business and technology strategy with renowned VC firms such as Dragonfly, Fenbushi Capital, and Alchemy Ventures. In mid-June, an in-person demo day will take place at the Sony Group headquarters in Tokyo, coinciding with Japan Blockchain Week.
Sota Watanabe, CEO of Startale Labs and Astar Network, said:
“We are pleased to launch the Web3 incubation program with Sony Network Communications, one of the Sony Group’s companies, which has been involved in the NFT sector and other Web3 initiatives within the Group. We hope to share the knowledge and resources of both companies to provide value to the participants selected for the program and create new use cases and projects.”
Sony exploring web3 gaming
According to filed patents, Japanese conglomerate Sony is interested in entering the expanding field of NFT gaming. In line with this objective, the company has established a regional office in Singapore to undertake development and consulting business, specifically related to NFT products.
The company has also recently filed a patent to integrate NFTs into its PlayStation ecosystem, specifically for the PlayStation 5. The patent outlines Sony’s plans to offer NFT rental services to players and stream viewers using the console.