Sony Network to Co-Host Web3 Event with Astar Labs
- Sony Network Communications will co-host the Web3 incubation Program along with Astar Network and Startale Labs.
- Entries will be accepted between Feb. 17 and March 6th and the partners will select around 10-15 potential winners.
- The plan is also to roll out educational sessions with venture capital firms such as Fenbushi Capital, Dragonfly, Alchemy Ventures, and others.
- Sony Network and Astar Network will be providing necessary tech support, resources, and financial assistance to all project members.
The development of the Web3 industry is gradually on the rise, despite the hindrances created by the 2022 crypto bear market and the collapse of several companies focused on Web3 and blockchain development. Interestingly, Sony Network Communications, a tech provider that comes under the Sony Group, has officially confirmed that it will be hosting a Web3 event with Polkadot-based Astar Labs, whose popularity is on the rise.
Together, Sony Network and Astar Network will present a Web3 Incubation Program, and those who are interested in the same can apply until March 6, 2023. Additionally, Startale Labs, a Singapore-based Web3 platform, confirmed that it is also a part of the team that will host the event, adding that it is “very excited to kick off the web3 incubation program together with Sony Network Communications.”
Moreover, it has been confirmed that the program will run from mid-March to mid-June, as the last date for applicants is March 6th and entry started on Feb. 17. The applications will be reviewed by the partners who will select particular projects for the incubation program. It has been decided that over 10-15 applicants will be approved as the three partners will focus on the introduction of the Web3 event, focusing on the utility of DAOs and NFTs.
The CEO of Astar Network, Sota Watanabe, stated that he is “pleased” to participate in the initiative alongside a company with rich experience in the NFT sector.
“We hope to share the knowledge and resources of both organizations to provide value to the participants selected for the program and create new use cases and projects,” Watanabe stated.
Interestingly, the Web3 program is also open to all interested parties on a global scale, and the plan is to roll out educational sessions with venture capital firms such as Fenbushi Capital, Dragonfly, Alchemy Ventures, and others.
Additionally, Sony Network and Astar Network will be providing necessary tech support, resources, and financial assistance to all project members, along with ensuring direct connection and feedback with “world-class Web3 companies.”
It was also confirmed that in mid-June, an offline demo day will be held at Sony Group’s headquarters in Tokyo during Japan Blockchain Week. Interestingly, the company has been investigating use cases for blockchain, Web3, and NFTs for quite some time.
It is crucial to note that in May 2021, the company filed a patent to integrate a Bitcoin-based betting system in its consumer electronics, like the PlayStation. Sony has also filed a patent for using non-fungible token technology for in-game assets.
On the other hand, the presence of Astar Network in Japan continues to strengthen, as recently, the Polkadot-based project received the ‘Product of the Year Award’ at the Japan Blockchain Association awards.
A crypto journalist with over 3 years of experience in DeFi, NFT, metaverse, etc. Parth has worked with major media outlets in the crypto and finance world and has gained experience and expertise in crypto culture after surviving bear and bull markets over the years.
