The crypto world has received some decent adoption news, courtesy of Japanese consumer electronics titan Sony. Not that it’s doing the price of Bitcoin and other assets any good this afternoon.

More on lacklustre arvo price action in a sec, but first, the good news.


Sony plans to invest into web3 industry

Per the Twitter thread, below from self-proclaimed crypto influencer Keyur Rohit, and a Google-translated (from Japanese) Bit Times article, Sony has teamed with Astar, a Polkadot-based Japanese smart contract platform and blockchain developer.

The aim is to create an incubator program for startups within the NFT, metaverse and broader web3 sphere. Startale Labs – reportedly a frequent Astar collaborator – is also part of the project.

Despite Sony’s “make.believe” tagline, and despite the thread above hyping it all up, we’re 99.9% positive this is a real collaboration, by the way.

Sony’s involvement comes from its Sony Network Communications, a wholly owned Sony subsidiary specialising in IT solutions and software development.

All three collaborators are reportedly prepared to invest in web3 firms at “all stages of development”.

Selected projects will be taking part in a Demo Day on June 18 in Japan. Initially, as many as 200 firms were selected for consideration in that, but the list has reportedly been whittled down to 19.


Top 10 overview

With the overall crypto market cap at US$1.19 trillion, down about 1.6% since this time yesterday, here’s the current state of play among top 10 tokens – according to CoinGecko.

Bitcoin and Ethereum have dropped off a tad since our morning roundup, when we reported it was all looking a little flat in the crypto majors, aside from XRP. That’s still largely the case as we just about close the door on another working day. 

Before we do that, let’s check in on the leading crypto market sentiment tracker… Yup, it’s still Flatsville. Why are we not surprised? 



Around the blocks

Some pertinence and randomness that stuck with us on our morning moves through the Crypto Twitterverse.