Hakuhodo creates new company focusing on Web3

Japan-based advertising and public relations firm Hakuhodo has created a new company, Hakuhodo Key 3, which will manage Web3 businesses in cooperation with Stake Technologies, the developer of Japan’s first public blockchain Astar Network.

Hakuhodo and Stake Technologies chief executive Sota Watanabe have been collaborating on using Astar Network to help their clients enter the Web3 market. The newly launched Hakuhodo Key 3 will focus on “hackathons,” in which engineers and designers will form teams, share ideas on a specific theme and come up with applications and services within a set time frame.

According to Hakuhodo, service development in Web3 is becoming mainstream through blockchain-supported hackathons, but the number available in Japan remains small.

The new company will hold hackathons around the world together with client companies that will become sponsors. Through these hackathons, the company will build a network with engineers around the world and promote the development of services that will become the key to a Web 3.0 society, Hakuhodo said.