Latest news about Bitcoin and all cryptocurrencies. Your daily crypto news habit.
In a move to foster global Web3 adoption, Sony Network Communications, a subsidiary of Sony, has joined forces with Startale Labs, a Japanese Web3 tech company. The collaboration comprises an investment of $3.5 million from Sony Network Communications.
Sony is planning to intensify its efforts in Web3 exploration and blockchain technology, building upon its current active engagement in this field.
The collaborative partnership will drive the advancement of Startale’s services and product development, with a specific emphasis on their vision to create all-in-one solutions for Web3 development. Additionally, the partnership will prioritize the integration of real-world assets into the ecosystem.
Related Reading: This New Zealand Based Travel Firm Just Lost Millions Of Customer Funds On Crypto Trading
Sota Watanabe, CEO, Startale Labs, stated:
Developers and users need to understand blockchain tech stacks when interacting with Web 3.0 space. We want to provide smooth experiences for general users and this tool will allow them to interact with the space without knowing it.
Sony Network Communications And Startale Labs Hosted A Web3 Incubation Program
In addition to the investment, Jun Watanabe, President and Representative Director of Sony Network Communications, has taken on the role of Director at Startale Labs. In a previous collaboration, the two companies effectively co-hosted a Web3 Incubation Program.
The three-month program extended an open invitation to Web3-related startups, welcoming applications from firms with a specific focus on developing use cases for non-fungible tokens (NFTs) and decentralized autonomous organizations (DAOs).
This program provided a valuable platform for startups to engage in workshops, access essential resources, and receive expert guidance.
Watanabe highlighted the critical role of their all-in-one solution in the context of Web3, emphasizing the necessity for developers and users to grasp the intricacies of blockchain technology stacks while engaging with Web3.
In complement to his role in Startale Labs, Watanabe is also recognized as a co-founder of the Astar Network. Astar operates as a parachain within the Polkadot ecosystem, and Startale Labs has been actively involved as part of the core team.
Notably, Astar recently achieved a significant milestone by launching smart contracts that support two virtual machines. This advancement enables the creation of projects utilizing either the WebAssembly or Ethereum Virtual Machine within the Astar Network.
He emphasized the significance of providing a comprehensive solution that enables seamless interaction and fosters a deeper understanding of blockchain technologies for all participants within the Web3 ecosystem.
Sony’s Contribution To Web3 Growth
Sony Network Communications, a prominent fiber optic internet service provider, is not the only arm of Sony delving into the realm of Web3 initiatives.
Various domains and branches within Sony have also actively participated in ventures related to nonfungible tokens (NFTs) and other aspects of the Web3 ecosystem.
March 2023 witnessed Sony Interactive Entertainment, the renowned video game powerhouse responsible for the PlayStation brand, filing a patent. This patent aims to enable users to seamlessly transfer and utilize nonfungible tokens (NFTs) across various gaming platforms.
Through this strategic collaboration and investment, the company is not only actively contributing to the advancement of Web3 infrastructure but is also laying the foundation for a new era of technology in Japan and beyond.
Publication date
Disclaimer
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.