Japanese entertainment giant Sony has teamed up with blockchain innovation hub Astar Network to launch a three-month-long Web3 Incubation Program.
The program will support promising startups with a focus on DeFi, Web3 gaming and metaverse, and infrastructure.
The Web3 Incubation Program will run from mid-March to mid-June and accept applications from today, February 17. It will consist of 10 to 15 cohorts, and Startale Labs, a Singapore-based company founded by Astar Network CEO Sota Watanabe, will organize the process.
How it Will Run
Startale Labs offers decentralized apps (dApps) and infrastructure, such as wallets, lending and NFT marketplaces, for Astar’s WebAssembly (WASM) eco-system.
As a gateway to the Astar Network, Startale facilitates integration with large enterprises and offers expert business consulting services in multi-chain protocol development.
The goal of the Web3 Incubation Program is to assist promising ideas in transitioning to minimum viable products (MVPs), irrespective of their Web3 startup stage.
With the robust ecosystem of the Astar Network at its disposal, the program focuses on candidates working in DeFi, Web3 gaming & metaverse, and infrastructure.
Startale will provide additional support to successful candidates so they have no issues with things such as business strategy, tech support, and will also benefit from leveraging Astar’s development and overall business expertise.
The program offers more advantages, including educational sessions with worldwide VC firms such as Dragonfly, Fenbushi Capital, and Alchemy Ventures, along with Web3 businesses, and workshops on business and technology strategy. A live demo day will also take place during Japan Blockchain Week in mid-June at the Sony Group headquarters in Tokyo.
Startale Labs and Astar Network’s CEO, Sota Watanabe, expressed his delight over the introduction of the Web3 incubation program with Sony Network Communications. Watanabe aims to leverage the knowledge and resources of both companies to offer value to program participants and create fresh use cases and projects.
What is Startale Labs
Startale Labs is a Web3 technology firm that specializes in creating multi-chain applications and infrastructure. Leveraging its expertise and network with Astar Network, the company also engages in R&D and incubation activities.
What is Astar Network
Astar Network is a dApps platform and the first public blockchain in Japan, functioning as a smart contract hub for the multi-chain era. The platform was the third public blockchain globally to connect to Polkadot.
From Audio Equipment and Playstations to Web3
Sony is one of the biggest entertainment companies in the world. Whether it’s music production or leading audio and visual equipment to gaming consoles, Playstation has been at the forefront of the entertainment industry for decades.
The company has established a regional office in Singapore to carry out contracted development and consulting services related to NFT products.
This latest venture with Startale Labs into the Web3 space may be a minor investment for such a giant, but it’s symbolic and will likely intrigue other entertainment conglomerates into looking into the Web3 space.
