- Sony has partnered with Astar Network to develop an incubation program focusing on Web 3.0 projects
- Sony wants to use the program to learn more about blockchain-based solution
- The program will be available from March to June 2023
The Sony Group, through its subsidiary Sony Network Communications, has partnered with Astar Network to develop an incubation program for Web 3.0 projects focusing on decentralized autonomous organizations (DAOs) and NFTs. Sony plans to use the partnership to get a deeper understanding of blockchain’s place in solving problems in the decentralized world. The partnership adds to Sony’s interest in blockchain technology which includes investments in the space and a patent for crypto mining equipment.
Sony Comes Onboard
In an announcement, Astar revealed that the program will be conducted online and is open to a global audience including both existing and new projects. Applicants have until March 6 to apply to the program which is scheduled to run for three months ending June this year.
Successful applications will get the opportunity to interact with leading Web 3.0 platforms like Polkadot and top venture capital firms like Dragonfly. Sony is also willing to invest in promising projects after the incubation period.
After the incubation period, some projects will be privileged to provide a demo at The Sony Group Corporation headquarters in Japan. The end of the incubation period and the timing of the demo coincides with the Japan Blockchain event which will bring together investors, companies and participants in the incubation program.
Toyota Exploring Blockchain Use Cases
Sony disclosed that it wishes to use the incubation program and the partnership to get an overview of how blockchain can be used to solve problems in its own ecosystem. Astar Network also has an active partnership with automotive heavyweight Toyota which is also exploring blockchain use cases.
Sony is also not new in the Web 3.0 world having launched motion-tracking metaverse wearables last year. Although Sony is familiar with blockchain technology, it’s yet to be seen if the incubation project will birth revolutionizing projects in the space.
