Sony Network Communications, a Japanese electronics powerhouse, has announced its new web3 incubation program in partnership with Japan’s most popular blockchain, Astar Network.
Sony dabbling in web3
Sony is ready to dive into the web3 waters by partnering with Astar, a popular blockchain from Japan, in its web3 incubation program. The program will run from mid-March to mid-June to attract 10-15 startups, regardless of their stage.
As of February 17, interested projects can start the application process. Projects that qualify for the program will have access to direct resources, technical support, and financial assistance.
In addition, they will have learning sessions with Venture Capitals such as Alchemy Ventures, Dragonfly and Fenbushi, among other companies, and technological workshops. An offline demo day will be held at Sony Group headquarters in Tokyo during Japan Blockchain Week in June.
In particular, Startale Labs, a Singapore-based company founded by Jack Watanabe, CEO of Astar, will help with the organization of the program. The platform develops infrastructure and dApps, offering business consulting on the development of multi-chain protocols.
The platform is also a gateway for large companies to use Astrar Network services. Startale will provide commercial strategy and technical support to the participating projects.
Watanabe mentioned that the company hopes to work with Sony Network Communications in the NFT and web3 sectors. He expects the knowledge and resources of the two companies to be valuable to selected participants and new use cases and projects to emerge from the program.
Playstation exploring NFT
Sony Interactive Entertainment, a subsidiary of Sony, recently announced its plans to rent NFTs to streamers and players.
The patent, from Sony, suggests that NFTs could be coming to PS4 and PS5 soon. He described the system as interconnected to give users an offer to rent an NFT that looks like a piece of art or an asset from popular PS 5 games. Meanwhile, they will have access directly by browsing the user interface.
The initial patent filing was on July 6, 2022, which shows that Sony has been working on NFTs for some time. The company also showed interest by proposing PlayStation Stars digital collectibles earlier.
