Powerhouse Japanese electronics company Sony Network Communications has launched its new web3 incubation program in collaboration with Astar Network, the country’s most well-known blockchain.
Sony’s Entry Into The Web3
As part of its web3 incubation Program, Sony has partnered with Astar, a well-known blockchain in Japan, to dip its toes in the web3 waters. Regardless of their stage, 10-15 startups will participate in the program, which will run from mid-March to mid-June.
The platform serves as a point of access for big businesses to use Astrar Network services. The participating projects will obtain business strategy and technical assistance from Startale.
Watanabe said the company is looking forward to collaboration with Sony Network Communications in the NFTs and web3 sectors. He hopes that the knowledge and resources from the two businesses would benefit the chosen participants and that new ideas and use cases will develop from the program.
Playstation Studying NFTs
Streamers and players can rent NFTs through Sony Interactive Entertainment, a Sony subsidiary, starting soon.
NFTs may soon be available for the PS4 and PS5, according to a Sony patent. It described the system as being interconnected to present customers with an opportunity to rent an NFT that resembles a piece of art or an item from well-known PlayStation 5 games. They will be able to access directly in the meantime through the user interface.
The patent had been filed on July 6, 2022, reflecting Sony has been working on NFTs for a while. The company proposed digital collectables for PlayStation Stars as another sign of interest.
The application process will start on February 17 for projects that are interested. The projects that meet the program’s requirements will have access to direct resources, technical support, and financial support.
Also, they will participate in tech seminars and learning sessions with venture capital firms including Alchemy Ventures, Dragonfly, and Fenbushi, among others. The Sony Group’s Tokyo offices will host an offline demo day in June as part of Japan Blockchain Week.
Significantly, the CEO of Astar, Sota Watanabe, founded Startale Labs, a company based in Singapore, to assist in the management of the program. The platform creates infrastructure and decentralized applications (dApps) and provides business consulting for creating multi-chain protocols.