Last week, Sony Network Communications announced that it was launching a web3 incubation program together with Astar Network. Astar Network is a multi-chain smart contract platform, one of the parachains of the Polkadot blockchain. It has already collaborated with NTT Docomo and partnered with Toyota for a hackathon.

The incubator will be run through Startale Labs, a Singapore company. It is compared to ConsenSys, the blockchain firm started by Joe Lubin. One of ConsenSys’ divisions has multiple partnerships with companies such as JP Morgan, Visa, and Mastercard.

Recruitment for the incubator started on Friday and it is expected to select between 15 and 20 projects that will join the program in mid-March for about three months.

His goal is to provide connections to high-profile web3 firms, including the Web3 Foundation and Alchemy, as well as technical and financial support. Participants can participate in demos with Sony Network Communications.

Several divisions of Sony already have a lot of experience with web3. There is the potential of blockchain for game assets, and Sony PlayStation filed a patent on the subject in November 2022. There has also been quite a bit of pushback from the established gaming industry, but not as much in Asia.

Premier League football team Manchester City unveiled a virtual fan engagement platform with Sony. Around 15 years ago, the Japanese giant launched a social virtual world experience, PlayStation Home, but it was shut down rather quickly.

Sony Pictures partnered to launch NFTs for a Batman non-fungible token (NFT) release. And Sony Music has embraced NFTs, including backing the MakersPlace marketplace and partnering with Snowcrash for Bob Dylan NFTs.