Sony Group launches Web3 incubation program in partnership with Astar Network

Sony Group’s internet services division has released a revolutionary Web3 incubation program in collaboration with Astar Network, a multi-chain decentralized app hub.

The program, led by Astar’s CEO Sota Watanabe and hosted by Singapore-based Startale Labs, will take place from mid-March to mid-June this year. Startale Labs is a company that develops Dapps and provides other infrastructures such as wallets.

Last April, Sony Network Communications established a Singapore-based business to investigate and provide services for developing the NFT space.

The 3-month incubation program will start accepting applications on February 17, and applications will close promptly on March 6. Everything from mentoring to Web3 sessions will take place online via Slack; however, the demo day culminates with an in-person event at Sony Group’s headquarters in Tokyo during Japan Blockchain Week this June.

Watanabe announced they would choose 10 to 15 ambitious Web3 initiatives from across the globe for the program, collaborating with Toyota to recruit more developers. VC firms and Web3 companies can expect regular business and technology strategy meetings when they join the program and opportunities to build relationships and receive insight directly from respected organizations such as Web3 Foundation and Alchemy.

Sony’s patent for in-game digital assets

In November, the Japanese conglomerate’s subsidiary Sony Interactive Entertainment released a patent that proposed integrating NFTs into their PlayStation video game console.

Sony has recently unveiled a patent for a system designed to monitor digital assets tied to video games, known as “Tracking Unique In-Game Digital Assets Using Tokens on a Distributed Ledger.”

According to the patent, digital assets may include in-game objects, such as characters and items, and recordings of moments taken during gameplay, like videos and pictures.

The patent background note explains that people often feel a sense of significance when they own or use exclusive physical items connected to celebrated figures or activities, citing baseball memorabilia as an example. Furthermore, renowned gaming companies such as Square Enix, Ubisoft, Konami, and Sega have all launched their NFT projects.