Investing in Japanese Web3 Initiative from Sony Network

Sony continues to invest in building an infrastructure to support web3. Sony’s subsidiary Sony Network announced on June 28 that it has made a $3.5 million investment in Japanese Web3 infrastructure technology company Startale Labs. The partnership will support Startale’s development of Web3 services and products, including its mission to focus on building solutions for web3 development and bridging the web3 ecosystem and real-world assets.

Startale Labs CEO Sota Watanabe stated that the partnership with Sony will allow them to learn many new things.

Developers and users need to understand blockchain technology stacks when interacting with Web3. We want to provide seamless experiences for general users and this tool will give them the opportunity to interact with the blockchain.

Following the investment, Jun Watanabe, president and representative director of Sony Network Communications, was appointed director of Startale Labs. Watanabe is also the co-founder of Astar Network, a parachain running on the Polkadot ecosystem. Sony Network Communications is a powerful fiber optic internet service provider.

Sony Interactive Entertainment, which is behind the Playstation brand, filed a patent last March that allows NFTs to be ported to multiple gaming platforms.