Sony, the multinational conglomerate, is venturing into the realm of Web3, NFTs, and the metaverse through an incubator program. Collaborating with Astar, a Japanese smart contract platform and blockchain developer, Sony aims to support groundbreaking projects in these rapidly evolving technologies.
The Incubator Program Under the leadership of Sony Network Communications, a subsidiary specializing in IT solutions and software development, this initiative aims to provide financial and technical assistance to selected firms at various stages of their development. The program was announced earlier this year, inviting companies from around the world to apply for incubation.
After undergoing a meticulous selection process, 19 projects have been chosen to participate in the program. These projects will be showcased during a “demo day” scheduled for mid-June, where prospective investors and industry experts will have the opportunity to engage with the candidates. This event will be held both in the physical world and the metaverse, demonstrating the convergence of virtual and real-world experiences.
Among the participants, Snickerdoodle Labs plans to issue NFT tickets for the event, introducing a unique digital dimension to the occasion. Additionally, Cosmize, another candidate, will host the metaverse event on the Astar blockchain, highlighting the potential of blockchain technology in creating immersive virtual environments.
Attracting Attention from Major Corporations This event has captured the interest of large corporations seeking to invest in the metaverse, NFTs, and Web3. It serves as a platform for networking, knowledge sharing, and fostering potential collaborations between established players and promising startups. Sessions led by global venture capital firms and Web3 companies will provide valuable insights, while mentoring programs will guide participants in formulating effective business and technology strategies.
Sony’s expansion into the Web3 arena aligns with the growing recognition of its significant economic impact. Prime Minister Fumio Kishida has identified Web3-related businesses, along with the metaverse and NFTs, as key drivers for Japan’s economic growth. By investing in these transformative technologies, Sony aims to position itself as a frontrunner in the digital revolution and leverage the opportunities they offer.
As the “demo day” approaches, the selected projects are poised to showcase their innovations and attract potential investors who share Sony’s vision for the future. The collaboration between Sony and Astar signifies the escalating interest and investment in the Web3, NFT, and metaverse sectors, indicating a promising future for these emerging technologies.
