Sony Network Communications and Astar Network are collaborating to co-host a Web3 Incubation Program to support Web3 projects focused on the utility of NFTs and DAOs.
The program, set to run from mid-March to mid-June, has started accepting applications from February 17.
Sony and Astar will collaborate with Startale Labs to organize the incubation program. Startale Labs is a Singapore-based company founded by Astar Network CEO Sota Watanabe. The program is open for Web3 startups worldwide, regardless of their startup phase.
The participating projects will receive direct connections and feedback with Web3 companies, free access to informative sessions, resources, tech support, and financial assistance from Sony Network Communications and Astar. Promising companies may be considered for investment from Sony Network Communications.
Sony Network Communications and Astar Network will review all applications and decide 10 to 15 cohorts to participate in the program. Startale Labs will provide business strategy and tech support to participating projects by leveraging Astar’s development, consulting, and R&D business expertise.
Sota Watanabe, CEO of Startale Labs and Astar Network, said that the company hopes to share the knowledge and resources of both companies to create new use cases and projects, and provide value to the participants selected for the program.
Sony Network Communications has set up a Singapore regional office to conduct contracted development and consulting business related to NFT products.
The program will include learning sessions with global VC firms and Web3 companies, as well as business and technology strategy workshops. An offline demo day will be held at the Sony Group headquarters in Tokyo during Japan Blockchain Week in mid-June.
Astar Network’s ‘Asia Strategy’ has been successful in forming partnerships with three of Japan’s largest corporations, including NTT Docomo, Sony, and Toyota, since its mainnet launch in January 2022.
Sony Network Communications is exploring how blockchain technology can solve various problems in their industry, and the incubation program with Astar Network provides an opportunity for them to quickly find relevant Web3 solutions.
Web3 startups can apply to the program here.
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