Sony Ventures Into the Web3 Space
Sony's Internet Services Division has teamed up with Astar Network, a multi-chain decentralized app hub, to offer a three-month incubation program for Web3 projects.
The program will be jointly hosted by Startale Labs, a Singapore-based company led by Astar’s CEO, Sota Watanabe, from mid-March to mid-June.
The incubation program will accept applications starting February 17 and will close on March 6. The program will mostly be conducted online, with communication on mentoring and Web3 sessions via Slack.
However, the demo day will be held in person at Sony Group’s headquarters in Tokyo during Japan Blockchain Week in mid-June.
The program aims to select 10 to 15 Web3 projects from around the world. Participants will have access to making direct contacts with global VC firms and Web3 companies for feedback and business strategy sessions. Sony will also consider projects that show promise for investment opportunities.
Sony has been actively exploring opportunities in the Web3 space. In November, its subsidiary, Sony Interactive Entertainment, published a patent that suggested NFTs could soon be integrated into the company’s line of video game consoles, PlayStation.
The patent covers a system for tracking digital assets associated with video games. Other gaming companies such as Square Enix, Ubisoft, Konami, and Sega have also launched NFT projects.