Sony continues to make its mark in emerging technologies with its recent announcement of a new investment in building a global infrastructure to support Web3.
On June 28, Sony Network Communications — a subsidiary of Sony — and Japanese Web3 infrastructure technology company Startale Labs revealed a new business collaboration and $3.5 million investment to build a foundation for widespread adoption of Web3.
The partnership will drive Startale’s development of Web3 services and products, including its mission to create comprehensive solutions for Web3 development and focus on connecting real-world assets to the Web3 ecosystem.
Startale Labs CEO Sota Watanabe told Cointelegraph that the partnership with Sony allows a new Web3 startup like itself to “learn and benefit from” many things. Commenting on its comprehensive solution, he said:
“Developers and users need to understand blockchain technology stacks when interacting with Web3. We want to provide seamless experiences for users in general and this tool will allow them to interact with the space without them knowing.”
Along with the investment, Sony Network Communications President and Representative Director Jun Watanabe has been named Director of Startale Labs. Previously, the two companies had successfully co-hosted the Web3 Incubation Program.
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Watanabe is also the co-founder of Astar Network, a parachin running on the Polkadot ecosystem, of which Startale Labs was part of the core team. Astar recently launched smart contracts that support two virtual machines, allowing creation of WebAssembly or Ethereum Virtual Machine projects within the network.
Sony Network Communications is a powerful fiber optic Internet service provider. However, other Sony domains and subsidiaries have participated in Web3 initiatives, including non-fungible tokens (NFTs).
In March of 2023, Sony Interactive Entertainment, the video game giant behind the PlayStation brand, filed a patent allowing users to transfer and use NFTs across multiple gaming platforms.
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