Sony Network Communications Inc. has recently demonstrated its dedication to Web3 infrastructure by injecting $3.5 million into Startale Labs.
This strategic alliance will create a worldwide Web3 infrastructure by harnessing Sony’s extensive expertise in telecommunications and various other industries.
Both teams will leverage all the capabilities of blockchain technology and create groundbreaking Web3 applications to promote Web3 adoption. They will establish a joint venture named “Sony Network Communications Labs Pte. Ltd.” this month. The newly formed initiative will provide value-added services across diverse industries.
Sony Group has historically engaged in different business sectors, such as gaming and network services, music, and entertainment technology and services. It has also been involved in imaging and sensing solutions and financial services.
Jun Watanabe, the President and Representative Director of Sony Network Communications, stated about the partnership:
“By combining Sony Network Communications’ experience in communication, IoT, AI, and solution services with Startale Labs’ insights and technical prowess in Web3, we aspire to create a global infrastructure that underpins the Web3 era, driving innovation across existing industries.”
Startale Labs, a key contributor to Astar Network, has embarked on a mission to create “Web3 for Billions”. The company intends to expand its team with Sony’s financial support from 15 to 30 employees. This expansion will enable Startale Labs to enhance its contributions to Astar Network and Polkadot.
Startale Labs’ CEO, Sota Watanabe, said that this joint venture will harness the combined power of their assets and expertise. Their primary objective is to collaborate in advancing the development of cutting-edge blockchain technology and its associated ecosystem.
Watanabe expressed that both parties remain resolute in identifying and propelling global Web3 trends.
The CEO voiced scepticism regarding the United States’ dedication to advancing digital technology. According to Watanabe, the Asian region is more willing to establish regulations supporting Sony and Startale’s missions.
Watanabe stated that the US government is reluctant to enable cryptocurrency’s practical use. Regulations are progressively becoming more stringent. China, Singapore, Japan, and Korea perceive this as a chance.
About Startale Labs
Startale Labs is a Singapore-based Web3 infrastructure company that builds core infrastructure and applications for Astar Network. The team behind the company also conducts research and development, implements cutting-edge technologies, and incubates Web3 startups to accelerate innovation.
The burgeoning tech firm is entirely focused on advancing the Web3 sector. It will initiate fresh projects within the Ethereum ecosystem.