Sony Network Invests $3.5M in Japanese Web3 Startup to Spur Mass Adoption

• Sony Network Communications, a subsidiary of Sony, has announced an investment of $3.5 million in Japanese Web3 startup Startale Labs to spur mass adoption.
• The partnership will focus on creating all-in-one solutions for Web3 development and bridging real-world assets with the Web3 ecosystem.
• Sota Watanabe, CEO of Startale Labs, has also been appointed as director of Sony Network Communications.

Sony’s Investment in Japanese Web3 Startup

Sony Network Communications — a subsidiary of Sony — and Japanese Web3 infrastructure tech company Startale Labs have recently announced a new business collaboration and a $3.5 million investment to build a foundation for the widespread adoption of Web3.

Startale Labs’ Mission

The partnership will push Startale’s development of Web3 services and products, including its mission to create all-in-one solutions for Web3 development and focus on bridging real-world assets with the Web3 ecosystem.

Sota Watanabe Appointed Director at Sony Network Communications

Along with the investment, the president and representative director for Sony Network Communications, Jun Watanabe, was appointed as director of Startale Labs. Previously the two companies successfully co-hosted a Web3 Incubation Program.

Astar Network Launches Smart Contracts Supporting Two Virtual Machines

Watanabe is also the co-founder of the Astar Network, a parachain operating on the Polkadot ecosystem, of which Startale Labs has been a part of the core team. Astar recently launched smart contracts supporting two virtual machines , which allowed the creation of WebAssembly or Ethereum Virtual Machine projects within the network.

Sony’s Other Involvement in Emerging Technologies Space

Sony Interactive Entertainment, the video game giant behind PlayStation also filed patent allowing users to transfer and use NFTs across multiple gaming platforms in March 2023.