Sony Network Communication Partnering with Astar Network to Launch a Web3 Project

Sony Group affiliate company Sony Network Communication will collaborate with Astar Network to launch a Web3 incubation project. The desire to attain the Web3 project objectives has inspired Sony and Astar Network to invest their human and financial resources to fast-track the launching of the program. 

The team behind the Web3 incubation project anticipates running the program from March to mid-June. The proposed Web3 project would integrate decentralized autonomous organization (DAO) and non-fungible tokens NFTs technologies.

Objectives of the Web3 Incubation Project

The uncertainty in the digital market necessitated Sony Group to invest in blockchain technology in pursuit of an innovative solution to improve the company’s performance. In 2022, the tech giant expanded to Singapore, establishing Sony Network, which was tasked to offer Web3-related services.


Sony Network agreed to join efforts with Singapore-based crypto firm Astar Network to develop Web3 incubation projects.

A report issued on February 17 revealed that the newly launched Web3 project has started to accept applications from developers and companies operating in the digital space across the globe. Sony and Astar confirmed to go through all the applications and group them into 10 to 15 cohorts. 

📰 Also read:  Bernstein Dismisses Political Influence in SEC Approving Spot Ethereum ETF Amid Biden's Veto

Benefits of the Web3 Project

The Web3 projects would provide educational sessions encouraging knowledge sharing with Web3, blockchain, and crypto technologies experts. 

In the meantime, the team has agreed to engage leading venture capital firms, including Dragonfly and Fenbushi. Also, the project would be facilitated by international blockchain startups, including Alchemy and Web3 Foundation. 

Sony and Astar intend to provide free learning resources, including training on business and technological developments. The project will offer financial assistance through grant programs to support the launching of Web3 startups. According to the February 17 statement, the selected companies would be provided technical assistance from global Web3 companies. 

Sony Network assured companies with viable Web3 projects will be considered by the tech firm for investment. Sony revealed plans to hold a Demo day during the upcoming Blockchain event in Tokyo, Japan, in June. Astar Network has confirmed to attend the Blockchain event to support Sony in product development.

📰 Also read:  ARK Invest Terminates Contract with 21Shares on Ethereum ETF

Previously, Astar had partnered with NTT Docomo and leading car manufacturer Toyota to explore the blockchain ecosystem. 

Tokenhell produces content exposure for over 5,000 crypto companies and you can be one of them too! Contact at if you have any questions. Cryptocurrencies are highly volatile, conduct your own research before making any investment decisions. Some of the posts on this website are guest posts or paid posts that are not written by Tokenhell authors (namely Crypto Cable , Sponsored Articles and Press Release content) and the views expressed in these types of posts do not reflect the views of this website. Tokenhell is not responsible for the content, accuracy, quality, advertising, products or any other content or banners (ad space) posted on the site. Read full terms and conditions / disclaimer.

📰 Also read:  Meta AI Chief Teases OpenAI About Equity Claims


Andrew Richard

Andrew is a news writer for Tokenhell, he enjoys tuning in to the daily crypto markets and writing about the latest updates and happenings.

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button
Skip to content