Sony Network and Astar Network to Co-Host a Web3 Incubation Program

Sony Network Communications (a tech provider under the umbrella of the Sony Group) partnered with Polkadot’s innovation hub – Astar Network – to present a Web3 Incubation Program.

Users willing to join can apply until March 6, 2023. 

Focusing on NFTs and DAOs 

According to a document seen by CryptoPotato, the program will run from mid-March to mid-June, as people can apply from February 17 until March 6. The partners will review the inquiries and approve 10 to 15 users. Sony Network and Astar Network will also collaborate with Startale Labs to introduce the Web3 event, focusing on the utility of DAOs and NFTs.

Sony Network has already started exploring the blockchain field, raising hopes the partnership will allow them to offer applicable Web3 solutions for consumers. 

Sota Watanabe – CEO of Astar Network – said he is “pleased” to participate in the initiative alongside a company with rich experience in the NFT sector.

“We hope to share the knowledge and resources of both organizations to provide value to the participants selected for the program and create new use cases and projects,” he added.

The Web3 Incubation Program is open to people from all regions across the globe. It will roll out educational sessions with venture capital firms such as Fenbushi Capital, Dragonfly, Alchemy Ventures, and others. 

Sony Network and Astar Network will provide necessary tech support, resources, and financial assistance to all project members. They will also ensure direct connection and feedback with “world-class Web3 companies.”

Astar’s Previous Improvements

The smart contract innovation hub that connects the Polkadot ecosystem to all Layer 1 blockchains recently introduced its XVM functionality on the public testnet Shibuya, allowing different projects to engage with each other. CTO Hoon Kim explained:

“We’ve been working hard to create the foundation of the future, regardless of outside influences that are happening now. And today, I am proud to introduce one of our most important features to achieve the Astar Vision; the Cross-Virtual Machine (XVM). It will be the start of the next wave of innovation for dApps.

Astar will not only have interoperability through XCM (Cross-chain Messaging) with other parachains but also have interoperability between different smart contract environments.”

Polkadot’s parachain teamed up with the blockchain entity Alchemy last summer to accelerate the development of Decentralized Finance (DeFi) by unlocking rewards and more opportunities for participants.