• Sony Network Communications and Astar Network are partnering to launch a Web3 Incubation Program.
• The program will focus on the utility of NFTs and DAOs, and applications will open on February 17th.
• The collaboration is an effort by traditional internet companies to remain relevant in the market as blockchain technology becomes more mainstream.
Sony & Astar Network Team Up for Web3 Incubation Program
Sony Network Communications, inc., an operating company of the Sony Group, has announced plans to co-host a Web3 Incubation Program with Astar Network, the smart contract platform for multi-chain capabilities.
What is the Program Aiming To Do?
The program aims to combine resources and expertise from both companies to nurture Web3 projects focused on the utility of NFTs and DAOs. Applications will begin accepting applications on February 17th and run through mid-June.
Why Traditional Internet Companies Are Investing in Blockchain Technology
Mainstream adoption of blockchain technology is expected to take place through traditional Web2 companies that upgrade and invest in the nascent industry. Additionally, most recent Web3 projects have grown through incubation by veteran crypto projects with deep liquidity and well-informed global regulatory frameworks.
Statement From Sota Watanabe
Sota Watanabe, CEO of Startale Labs and Astar Network said; “We are pleased to launch the Web3 incubation program with Sony Network Communications, one of the Sony Group’s companies which has been involved in the NFT sector and other Web3 initiatives within the Group. We hope to share knowledgeand resources of both companies to provide value to selected participants for creating new use cases and projects.“
Conclusion
The astronomical growth of this industry has attracted traditional internet companies like Sony Networks Communications into investing in blockchain technology as an effort to remain relevant in this ever growing market. By teaming up with Astar Networks, they are looking forward to create new use cases through their joint efforts while also providing value for selected participants in this program.