Sony Intends To Launch Web3 Incubation Program during Demo Day

Sony Network Communications, an operating company of the Sony Group, teamed up with Astar Network, a Japanese smart contract platform and blockchain developer, for the development of the Web3 industry, Decrypt website reported.  

The two giants, in collaboration with Startale Labs Pte Ltd, will launch a Demo Day in which they will announce the Web3 Incubation Program. The Demo Day, known as the Japan Blockchain Week Official Event, is a hybrid event hosted in-person at an offline venue and online in the metaverse to allow all participants from anywhere to take part in the event. It will be held on June 18. 

The Demo Day will witness a set of activities with no participation fee and all of them will be in English. The sessions will see each project’s innovations to venture capitalists and large corporations interested in collaborating with Web3 startups, in addition to presentations about the status, achievements, and future outlook of the Web3 Incubation Program itself. 

Those who will attend the event physically will receive NFTs issued by Lemonade, a platform designed for creators and brands. The NFTs will be in the form of special SoulBound Tokens (SBT) to commemorate the event and are non-transferable. While those who will attend the Demo Day virtually will get an NFT pass issued by Snickerdoodle Labs to attend Demo Day staged in the COSMIZE metaverse. 

As for the Sony incubation program, only 19 projects out of more than 200 applications will be selected to become a part of the incubation program. These projects will benefit from Sony’s extensive resources for collaboration and support.  

In this regard, Astar Network founder Sota Watanabe commented: “These top teams launched on Astar are ready to build Web3 solutions with Sony Network Communications. Demo Day will be the space for passionate groups to connect in Japan and grow their Web3 vision.”