Home » Sony Network invests in Japanese startup Web3 to accelerate mass adoption

Sony Network invests in Japanese startup Web3 to accelerate mass adoption

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Sony continues to make inroads in the emerging technology space 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 unveiled a new business partnership and a $3.5 million investment to build the foundation for widespread Web3 adoption.

The partnership will support Startale’s development of Web3 services and products, including its mission to create end-to-end solutions for Web3 development and focus on connecting real assets to the Web3 ecosystem.

Sota Watanabe, CEO of Startale Labs, told Cointelegraph that the partnership with Sony allows a new Web3 startup like himself to “learn and leverage” many things. Commenting on his all-in-one solution, he said:

“Developers and users must understand blockchain technology stacks when interacting with Web3. We want to provide a smooth experience for regular users, and this tool will allow them to interact with the space without even knowing it.”

Along with the investment, Sony Network Communications president and vice president Jun Watanabe was named director of Startale Labs. Previously, the two companies successfully co-hosted the Web3 Incubation Program.

Related: Japanese and Singaporean regulators have joined forces on a cryptocurrency pilot project

Watanabe is also the co-founder of Astar Network, a parachain operating in the Polkadot ecosystem, whose core team included Startale Labs. Astar was launched recently smart contracts supporting two virtual machineswhich made it possible to create 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 branches have also joined Web3 initiatives, including non-fungible tokens (NFTs).

In March 2023, Sony Interactive Entertainment, the video game giant behind the PlayStation brand, filed a patent allowing users to transfer and use NFT on multiple gaming platforms.

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