Sony launches Web3 incubation program
Sony has introduced that they have launched Web3 incubation program.
With US stocks closed on Monday, the market awaits the January PCE edition this Friday. Meanwhile, the broader cryptocurrency is showing bullish signs as Bitcoin has tested $25,000 several times in the past 24 hours. Today's hot token ACS has seen huge price fluctuations over the past week due to its unique business model.
Sony launches Web3 incubation program
ACS is the native symbol for Access Protocol, a Web3 content subscription service provider built on Solana. Access Procotol is pioneering a reading-learning experience where users earn rewards by subscribing to content services. Many Web3 content service providers, such as The Block, have already joined the list of creators by experimenting with the new content monetization model with the help of blockchain technology. However, ACS tokenomics has led to an inflationary 7% annual token supply, sending headwinds to token performance over the long term.
Sony Network Communications announced the launch of a Web3 incubation program in partnership with Astar Network, a platform built on one of Polkadot's parachains. The incubator will begin recruiting soon, aiming not only to connect Web3 startups to more established Web3 companies, but also to provide technical and financial support to help these projects grow. Sony, one of the most prestigious games studios in the world, has seized on opportunities in the Web3 space through this incubation program, along with previous efforts to create a virtual fan engagement platform with Manchester City football club and release Batman-themed NFTs.
