• Sony Network Communications and Astar Network have announced a strategic partnership to nurture Web3 projects.
• The program will accept applications on February 17 and run from mid-March to mid-June.
• Sony and Astar will collaborate with Startale Labs, a Singapore-based investment firm, for the program.
Sony Announces Strategic Partnership With Astar Network
Sony Network Communications Inc., an operating company of the Sony Group, has announced plans to co-host a Web3 Incubation Program with Astar Network, the smart contract platform for multi-chain capabilities. The two companies will combine their resources and expertise to jointly nurture Web3 projects focused on the utility of NFTs and DAOs.
Application Acceptance & Program Timeline
The Web3 incubation program by Sony and Astar networks will begin accepting applications on February 17th and run from mid-March to mid-June. Both companies will review and decide on the best 10 to 15 Web3 projects to incubate during this period.
Mainstream Adoption of Blockchain Technology
Mainstream adoption of blockchain technology is expected take place through traditional Web2 companies that upgrade and invest in the nascent industry. Most recent Web3 projects have grown through incubation by veteran crypto projects with deep liquidity and well-informed global regulatory frameworks.
Collaboration With Startale Labs
Sony and Astar will collaborate with Startale Labs, a Singapore based investment firm for this program. Sota Watanabe, CEO of Startale Labs said; “We are pleased to launch the Web3 incubation program with Sony Network Communications which has been involved in NFT sector within the Group.“ He further hoped that knowledge sharing between both companies would provide value to participants selected for the program while creating new use cases & projects simultaneously.
This strategic partnership between Sony Network Communications & Astar Networks is expected create more opportunities for startups within web 3 space while facilitating mainstream adoption of blockchain technology at large scale.