Sony Network invests in Japanese Web3 startup to spur mass adoption

Sony and Startale Labs Collaborate to Create Web3 Platform

Sony has made a statement of its commitment to the burgeoning tech sector by revealing plans to construct a worldwide framework to back Web3.

On June 28th, Sony Network Communications – a subsidiary of Sony – and the Japanese Web3 infrastructure tech company Startale Labs announced a joint business venture as well as a $3.5 million investment to create a platform for the increased utilization of Web3.

The collaboration between the two entities will propel Startale’s progress in the development of Web3 services and products, with an emphasis on creating comprehensive solutions for Web3 development and connecting real-world assets to the Web3 ecosystem.

Sota Watanabe, the CEO of Startale Labs, informed Cointelegraph that joining forces with Sony offers a Web3 startup like theirs the opportunity to “acquire knowledge and make use of” numerous things. He further commented on their comprehensive solution, saying:

Jun Watanabe, the president and representative director for Sony Network Communications, was appointed as a director of Startale Labs following the investment. The two companies had previously collaborated in hosting a successful Web3 Incubation Program.

Sony Involved in Various Web3 Endeavors, Including NFTs

Japanese and Singaporean regulators have come together to collaborate on a crypto pilot project.

Watanabe is also a co-founder of Astar Network, a parachain within the Polkadot ecosystem, with Startale Labs being part of the core team. Recently, Astar launched smart contracts that support two virtual machines, enabling the development of WebAssembly and Ethereum Virtual Machine projects within the network.

Sony Network Communications is a powerful fiber optic internet provider, but other divisions and departments of Sony have also been involved in Web3 endeavours, including Non-Fungible Tokens (NFTs).

In March 2023, Sony Interactive Entertainment, the renowned video game company behind the PlayStation brand, submitted a patent application permitting gamers to move and employ Non-Fungible Tokens across various gaming systems.

Magazine: BitCulture: Featuring Fine Art from Solana, AI-generated Music, Podcasts, and Book Reviews.

Categorized in:

Tagged in: