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17 Hours ago
Sony Intends To Launch Web3 Incubation Program during Demo Day
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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.”

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China's Web3
1 Days ago
Beijing White Paper Shows China Openness to Web3 Industry
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The municipal government of Beijing released a white paper to enhance the development of the Web3 industry, according to Cointelegraph.

Named “Web3 Innovation and Development White Paper”, the paper was released during the Zhongguancun Forum, organized by the Beijing Municipal Science and Technology Commission. The Chinese paper describes Web3 technology as an inevitable trend for future Internet industry development.

The Beijing Commission decided to allocate at least 100 million yuan ($14 million) annually until 2025 with the aim of turning Beijing into a leading global innovation hub for the digital economy. Local media reported that the White Paper showcases Beijing’s keenness to foster policy support and accelerate technological advancements to bolster the growth of the Web3 industry.

In this regard, Binance CEO Changpeng Zhao hailed the timing of Beijing’s White Paper as interesting as it comes in conjunction with the launch of the crypto regulations in Hong Kong as of June 1.

The release of the Chinese White Paper reflects the country’s increasing openness to this industry and its potential.

Last week, the capital of China’s eastern Jiangsu province, Nanjing, opened the China Metaverse Technology and Application Innovation Platform to develop metaverse-related disciplines and promote wider and higher campus and school-enterprise development.

The metaverse-based project, which is also state-backed, is led by the Nanjing University of Information Science and Technology (NUIST). Its founding members represent academic institutions and metaverse-related firms from different parts of Mainland China.

Earlier, a new report found that the metaverse industry in China is flourishing as it is expected to hike by about 40% this year.

According to a recent report by Research and Market, the world’s largest market research store, on the Chinese metaverse market and its future, the metaverse industry in China is predicted to increase by 39.5% on an annual basis to reach $1,06,102.8 million in 2023, a matter which shows the significant growth of the metaverse in the Asian country.

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Animoca Brands
14 Days ago
Animoca Brands Supports Web3 Global Educators Fund by $10 Million
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Metaverse and gaming developer Animoca Brands announced that it would grant $10 million to a fund that aims to provide educational content on the usage of Web3 technologies and communities. 

In a press release, Animoca Brands said it would fund the Global Educators Fund (the “Fund”) with $10 million. The Fund is established by Open Campus Protocol (“Open Campus”). 

Open Campus is a community-led protocol for content creators, educators, parents, and students, which aims to make use of Web3 technology to create a modern and global educational space where students, parents, content creators, and parents can cooperate. Through it, its community can utilize blockchain technology to fund, co-own and learn from educational content that fits their needs.

Open Campus, as a project, includes is supported by Animoca Brands, GEMS Education, Liberty City Ventures, TinyTap, Dalton Learning Lab, and others.

As for the fund, it encourages qualified teachers and enthusiastic persons to create educational content, including videos, slideshows, interactive games, and other forms. The successful applicants may receive up to $100,000 in EDU tokens to help them in funding their ideas for developing educational courses. 

In this regard, Animoca’s Co-founder and Executive Chairman Yat Siu said: “Teachers are among the most prolific and important content creators, but they often lack the funding to advance and innovate in the classroom and in their learning programs. By supporting the Open Campus Global Educators Fund, which we believe is the first of its kind, we want to use Web3 to allow educators around the world to produce new educational content that is relevant and innovative and that can adequately prepare students for the challenges and opportunities of the future.”

Animoca Brands is used to offer grants and pump investments in Web3-related technologies, the top of which was their December announcement of its plan to set up a fund worth $2 billion to invest in metaverse-related activities. 

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Web3 Gaming
14 Days ago
UAE among World’s Top 15 Countries in Web3 Gaming – Study Says
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The UAE managed to maintain its position among over 15 countries that are interested in Web3 games in the period between 2021 and 2023, according to a new study by Coingecko.

According to data gathered from Google Trends, which focuses on the relative interest in terminology relating to Web3 games, the report found that the UAE is one of the most important distinct markets in the Web3 industry, along with China and Vietnam, which witnessed a decline, Cointelegraph reported.

China became in ninth place after being in second place in the period between 2021 and 2022. The Netherlands, Kenya, Lebanon, and Sri Lanka are among the countries most interested in Web3 gaming, with these names managing to rank high on the list of the top 15 countries for the first time. They have already exceeded the UAE which managed to preserve its place for three years in a row.

The report also pointed out that the video game market’s revenues in the Arab country would reach $359.20 million, according to forecasts by Statista, with expectations to record a compound annual growth rate of 5.77% during the period between 2023 and 2027.

Such numbers will create a market size that could reach $449.60 million by 2027. Meanwhile, the number of users in the country is predicted to reach 4.27 million users by 2027, with user penetration reaching 40.7% within four years.

The Philippines is the most interested country in Web3 gaming in 2023, according to search operations, followed by Nigeria, Pakistan, and Singapore.

The report also added that Southeast Asia continues to be a major market for GameFi games, as Southeast Asian countries dominated the top 15 in the global rankings last year.

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