- Sony Network has invested $3.5 million in Startale Labs to build a global web3 infrastructure.
- Startale Labs plans to double its workforce and contribute more to Astar Network, Polkadot, and Ethereum projects.
- Sony Network Communications President Jun Watanabe will join Startale Labs, reaffirming Sony’s commitment to web3.
Sony Network Communications Inc. recently reaffirmed its commitment to web3 infrastructure by investing $3.5 million in Startale Labs, a promising technology firm devoted to the development of the web3 sector.
This strategic alliance intends to build a global web3 infrastructure using Sony’s extensive expertise in telecoms and other industries.
The ‘Web3 for Billions’ Strategy of Sony and Startale
Startale Labs, a major Astar Network contributor, is on a quest to create “Web3 for Billions.” The company intends to double its employment with Sony’s financial support from 15 to 30 people. This will also allow it to contribute to Astar Network and Polkadot, as well as start new Ethereum initiatives.
Sony’s investment in Startale Labs demonstrates the company’s commitment to the blockchain space, mainly as attention swings away from Silicon Valley and toward Asia and Pacific markets owing to regulatory uncertainties in the United States.
This action is consistent with Sony’s prior forays into blockchain technology, cementing the company’s position in the web3 industry. Jun Watanabe, President and Representative Director of Sony Network Communications Inc., will become a director of Startale Labs.
Overall, this move suggests strengthening the partnership between the two organizations, which had previously collaborated by sponsoring incubation programs focused on supporting web3 development.
Seeking Opportunity in the East
Sony‘s choice to invest directly in Startale Labs, without the involvement of any other investors, demonstrates the company’s belief in the potential of web3 infrastructure. This collaboration will integrate Startale Labs’ innovative technology and expertise with Sony’s established experience and commercial domains. This has the potential to become a powerful force for global web3 adoption.
Sota Watanabe, CEO of Startale Labs, expressed reservations about the United States’ commitment to advancing digital technology. According to Watanabe, the Asia area is considerably more open to establishing legislation that will support Sony and Startale’s mission:
“The United States government is hesitant to make cryptocurrency usable.” Regulation is getting tighter and tighter. China, Singapore, Japan, and Korea think this is an opportunity.”
Sony and Startale Labs are now in a position to produce game-changing web3 use cases and value for the worldwide market. The collaboration demonstrates Sony’s continuous commitment to blockchain endeavors and its aim for global web3 adoption.