Sony Network Communications Inc. recently reinforced its commitment to web3 infrastructure by investing $3.5 million in Startale Labs, an up-and-coming technology company dedicated to advancing the web3 industry. This strategic partnership aims to build a global web3 infrastructure by leveraging Sony’s extensive experience in other sectors such as telecommunications and crypto. Here are the details…
The strategy of Sony and crypto company Startale attracted attention
Startale Labs, a core contributor to Astar Network, set out with the mission of building “Web3 for Billions”. With financial backing from Sony, the company plans to double its workforce from 15 to 30. This will also allow him to contribute more to Astar Network and Polkadot and start new projects for Ethereum. Sony’s investment in Startale Labs underscores its commitment to the Blockchain industry as its focus shifts from Silicon Valley to Asian and Pacific markets, especially due to regulatory uncertainty in the US.
This move is in line with Sony’s previous ventures into Blockchain technology and further solidifies its position in the web3 space. Sony Network Communications Inc. President and Representative Director Jun Watanabe will join Startale Labs as an executive. Overall, the move points to a deepening relationship between the two companies, which already collaborate by jointly hosting incubation programs aimed at encouraging web3 development.
Asian region is important
Sony’s decision to invest directly in Startale Labs without another backer underscores the company’s confidence in the potential of its web3 infrastructure. This partnership will also combine Startale Labs’ advanced technologies and expertise with Sony’s advanced experience and businesses. This could be a powerful force for global adoption of web3. Startale Labs CEO Sota Watanabe expressed doubts about the United States’ commitment to the advancement of digital technology. According to Watanabe, the Asian region is much more open to creating regulations that will support Sony and Startale’s mission:
The US government is hesitant to make crypto available. Regulations are getting stricter. China, Singapore, Japan and Korea see this as an opportunity.
Sony and Startale Labs are now poised to create groundbreaking web3 use cases and value for the global market. This collaboration is a testament to Sony’s commitment to blockchain initiatives and its vision for global adoption of web3. In early June, Startale Labs received a $3.5 million investment from Sony Network Communications, once again underlining their commitment to this strategic partnership and the development of Blockchain.
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