Sony Network Communications and Startale Labs are joining forces to shape the future of the Web3 era.
Learn how this groundbreaking joint venture aims to leverage blockchain technology to its fullest potential, creating new avenues for innovation across various sectors, from gaming and entertainment to finance.
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Pioneering Blockchain Infrastructure for the Web3 Era
Sony's subsidiary, Sony Network Communications, announced on September 12, 2023, that it has entered into a joint venture agreement with Startale Labs to co-develop blockchain technology that will serve as the global infrastructure for the Web3 era.
Startale Labs, founded in January 2023 by Sota Watanabe, is a Japanese company specializing in the development of multi-chain compatible applications and infrastructure.
Sota Watanabe is also the founder of the public blockchain "Astar Network."
The new joint venture will be named "Sony Network Communications Labs Pte. Ltd." and is expected to be established within September 2023.
Leveraging Blockchain for Web3 Use Cases
The newly formed company aims to develop blockchain technology that maximizes the potential of Web3 use cases.
Specifically, the venture will collaborate with various Sony Group businesses, including gaming & network services, music, movies, entertainment technology & services, imaging & sensing solutions, and finance, to create new value across multiple industry sectors through Sony Network Communications.
In a post on September 12, Sota Watanabe stated, "We are establishing a joint venture to co-develop Sony's blockchain," and added that "Sony Chain has the potential to surpass Coinbase's Base and become a world-leading project."
Executive Comments on the Joint Venture
Sony Network Communications - Jun Watanabe:
"I am delighted to announce the establishment of a joint venture with Startale Labs, which possesses advanced Web3 technology and expertise. By merging the experience Sony Network Communications has gained in communications, IoT, AI, and solution services with Startale Labs' Web3 expertise, we aim to create a blockchain that will serve as the global infrastructure for the Web3 era."
Startale Labs - Sota Watanabe:
"Following our capital alliance with Sony Network Communications in June 2023, I am extremely pleased to announce the establishment of our joint venture. This venture is designed to combine the assets and expertise of both parties to co-develop world-leading Web3 products. We aim to carefully identify the next trends and timing in Web3 and take on the world."