On September 12, 2023, Sony Network Communications, the Japanese giant’s internet services company, and Startale Labs, the Singapore-based Web3 company, announced that they had entered into a joint venture agreement.
＼スターテイル・ラボと新会社設立へ／
「Sony Network Communiations Labs Pte. Ltd.」の設立が決定👐
新会社では、Web3時代を支えるグローバルインフラとなるブロックチェーンの開発を目指します。
スターテイル・ラボの詳細はこちら👇https://t.co/NmC59jccQS pic.twitter.com/GdH602nlPa
— ソニーネットワークコミュニケーションズ (@sonynetworkcom) September 12, 2023
Sony Network’s Support for Web3 Adoption
According to an official statement by Sony Network along with Startale Labs, their joint venture will “develop a blockchain that can become the backbone of global Web3 infrastructure by combining their expertise, skillset, and network of partners.” The joint venture company will be established this month, as “Sony Network Communications Labs Pte. Ltd.”
Sony further wrote, “As blockchain technology continues advancing, the teams will harness it to its fullest potential.” Meanwhile, it will focus on creating fantastic Web3 use cases that drive the adoption of Web3.
Statements from Officials
Over the strategic collaboration, Jun Watanabe, President and Representative Director of Sony Network Communications said “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.”
Sota Watanabe, CEO of Startale Labs, also shared his thoughts and said “This joint venture is founded on the synergy of our respective assets and knowledge, aimed at co-developing leading blockchain and its ecosystem. We are determined to discern Web3 trends and drive them globally.”
Highlights from Startale’s CEO Post
Watanabe also shared an X (Twitter) post recently where he mentioned “Sony is going to make Sony’s blockchain together with Startale through the joint venture between us.” He also thinks that this can be “the game changer in Web3.” He further stated that he would become one of the directors at the joint company.
The Startale CEO clarified his saying by giving the example of Coinbase’s Base has become “very successful so far.” If Sony, the 6 times bigger company than Coinbase, will launch its platform with Web3 ways then what can happen!” he questioned. It must be noted that Base is the Ethereum Layer 2 blockchain that is built on OP Stack by Coinbase, the U.S.-based crypto exchange.
Watanabe further kept the point about the different sectors working in the new company. He wrote, “With its involvement across Sony Group’s diverse business segments, the new company will aim to provide value-added services in various business arenas.”
It can be seen that Sony Group’s business is widely spread its business in game and network services, music, pictures, entertainment technology and services, imaging and sensing solutions, and financial services.
Late in June 2023, Sony Network Communications had invested nearly $3.5 Million in Startale Labs. In February 2023, both companies announced that they were working on a Web3 incubator.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing
Source: https://www.thecoinrepublic.com/2023/09/12/sony-network-and-startale-labs-join-hands-to-explore-web3/