Sony and Astar Network to Co-Host Web3 Incubation Program

• Sony Network Communications and Astar network are partnering up to launch a Web3 incubation program focused on the utility of NFTs and DAOs.
• The application process for the incubation program will begin on February 17th and run from mid-March to mid-June.
• Sony and Astar will collaborate with Startale Labs in Singapore to review applications and provide resources for successful projects.

Sony’s Involvement in NFT Sector

Sony Network Communications, an operating company of the Sony Group, has been actively involved in incorporating internet users into the financial gains of Web2 platforms by investing in blockchain technology. To further this mission, they have announced plans to co-host a Web3 Incubation Program with Astar network – a smart contract platform that provides multi-chain capabilities.

Program Details

The Web3 incubation program by Sony and Astar networks will begin accepting applications on February 17th and run from mid-March till mid-June. During this period, the two companies will review applications and decide on 10 to 15 projects to be incubated through their resources and expertise focusing on NFTs & DAOs. Sota Watanabe, CEO of Startale Labs & Astar Network said; „We hope to share the knowledge & resources of both companies (Sony & Astar) to provide value to the participants selected for the program & create new use cases & projects.“

Collaboration with Startale Labs

To make sure that only high quality projects are accepted for incubation, Sony & Astar have partnered with Startale Labs – a Singapore based company experienced in providing expertise related to blockchain technology including cryptocurrency trading services, asset management services, as well as dApps development services. Therefore, Startale Labs will be responsible for reviewing applications submitted during this process alongside Sony & Astar Networks.

Conclusion

This strategic partnership between Sony Network Communications & Astar Networks is expected to open doors towards mainstream adoption of blockchain technology through traditional Web 2 companies that upgrade and invest in the nascent industry. Furthermore, it provides an opportunity for new Web 3 startups to grow their project through expert guidance while also benefiting from global markets regulatory framework backed by veteran crypto projects with deep liquidity pools.