Sony will launch a new incubator program for Japanese Web3 firms.
Sony has introduced a new incubator program in collaboration with Astar Network and Startale Labs, aimed at promoting digital transformation in Tokyo and the Cosmize Metaverse. A ‘Demo Day’ is scheduled for June 18 to showcase the program’s initiatives.
Nineteen promising ventures have been selected from an initial pool of 200 companies. Each firm will present their projects, allowing investors to gain insights into their workings. This platform encourages innovative ideas and fosters discussions among participants, including venture capital firms and blockchain-based companies.
Sony has invited corporations interested in Web3 initiatives to join the program and learn from venture capital firms and blockchain companies. The incubator program also offers mentorship sessions focused on business and technology strategies. This initiative reflects a growing trend in the Japanese business sector and aligns with the country’s goal of utilizing Web3 technologies to drive economic growth.
Prime Minister Fumio Kishida has identified Web3-related businesses, the metaverse, and NFTs as drivers of economic growth in Japan. Sony, in line with this vision, is investing in various firms through the incubator program. By partnering with Astar and Startale Labs, Sony aims to nurture and support startups in the Web3, NFT, and metaverse space.
Sony Network Communications, a subsidiary specializing in IT solutions and software development, will lead the incubator program. Sony and its partners have opened applications for financial and technical support, welcoming Web3 firms at all stages of development. From the initial 200 firms, 19 projects have been shortlisted for the upcoming demo day.
The demo day will occur both in the physical world, likely in Tokyo, and in the metaverse. Cosmize, a metaverse platform built on the Astar blockchain, will host the metaverse event. Snickerdoodle Labs, another candidate firm, will issue NFT tickets for the event. Sony has invited “large firms” interested in metaverse, NFTs, and Web3 investment to participate. The agenda includes sessions led by venture capital firms and Web3 companies, along with mentoring on business and technology strategies. Sony also promises to connect businesses with the resources of Sony Network Communications.
⭐ Brace yourselves for the Future of Web3!
Our Demo Day with Sony Network Communications is set for June 18th offline and in the @cosmize_io Metaverse!
High demand means limited passes will be issued via lottery.
— Astar, Future of Smart Contracts for Multichain (@AstarNetwork) May 29, 2023
Sony’s foray into the blockchain world is not new. In 2020, the company expressed interest in blockchain technology for its pop groups’ fan base. This strategic move into Web3, NFTs, and the metaverse aligns with Prime Minister Fumio Kishida’s vision of driving economic growth through these technologies.
Sony’s incubator program, in collaboration with Astar and Startale Labs, aims to accelerate digital innovation in Japan. By supporting Web3 initiatives, NFTs, and the metaverse, Sony is driving economic growth and encouraging other Japanese companies to venture into the world of blockchain technologies. The upcoming demo day promises to be an exciting event where cutting-edge ideas will be presented and discussed, shaping the future of digital innovation in Japan.
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