Sony and Astar Network have launched a Web3 incubator for young companies entering the crypto industry. The incubator is operated by Startale Labs and runs until June 2023. Applications for companies around the world to join the incubator were open for one month in early 2023, with the main requirement for companies to rely on blockchain technology to develop their business. Thus, Web3 companies, whether in the start-up stage or already well established, were encouraged to apply. Sony and Astar Network have selected around ten companies for this initiative.
Selected companies benefited from sessions with investors and global Web3 companies, coaching on business and technology strategies, and matchmaking with Sony Group resources.
At the end of the three-month incubation period, promising projects will collaborate on a Proof of Concept (PoC) with Sony. A demo day will be held at Sony Group Corporation headquarters in Tokyo at the end of the incubation period.
Sony is turning more and more to blockchain technology and Web3. In November 2022, Sony’s Playstation filed a patent for blockchain-based games, suggesting games could be a key driver for the company’s rise to prominence in Web3.
Other departments are also moving to Web3, with Sony Music backing the release of NFT linked to American music legend Bob Dylan. Sony Pictures, the tech conglomerate’s film subsidiary, is also gearing up to launch NFTs for Batman.
The Web3 incubation program launched by Astar Network and supported by Sony is the latest in a series of high-profile collaborations for Astar, which recently teamed up with Toyota for a Web3 hackathon.
After launching its mainnet in 2022, Astar has received support from many industry leaders such as Binance Labs, Crypto.com, Coinbase Ventures and DFG, a venture capital firm working closely with innovative Web3 projects.
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