In order to establish a Web3 incubation program for projects that concentrate on the utility of non-fungible tokens (NFTs) and decentralized autonomous organizations, Sony Network Communications, a business division of The Sony Group, partnered with multi-chain smart contract network Astar Network (DAOs).
Astar Network CEO Sota Watanabe founded the Singapore-based company Startale Labs. Which will operate the Web3 incubation program, which will take place from mid-March to mid-June of this year. On February 17 and ending on March 6, applications for the school will be accepted.
Global venture capital companies like Dragonfly, Fenbushi Capital, and Alchemy Venture will provide learning sessions for the 10 to 15 cohorts of applicants who are accepted into the program.
The program’s objective is to investigate “how blockchain technology can solve different problems in their industry”. According to a press release from Sony Network Communications. Sony Network Communications may also be interested in investing in program projects.
Astar Network’s ongoing collaborations with businesses seeking to investigate potential applications for Web3 technology include the incubation program. Toyota and Astar Network collaborated on a Web3 hackathon last month. Astar Network was one of the first parachains to join the Polkadot network.
With the announcement of the Mocopi motion-tracking metaverse wearable in November 2022, Sony has also begun to embrace Web3 technology more widely.