Sony Announces Joint Initiative to Create Blockchain for Spearheading Its Web3 Strategy
Sony Network Communications, part of the Sony Group, entered into a joint initiative to create a blockchain project that aims to serve as the “backbone of global Web3 infrastructure.” The new company, created with Startale Labs, a Web3 development startup, aims to provide “value-added services” in different areas.
Sony Network Announces Joint Blockchain Initiative
Sony Network Communications, part of the Sony Group that focuses on providing communications infrastructure services, has announced that it entered a joint venture to develop a blockchain to become “the backbone of global web3 infrastructure.” This new blockchain technology will be leveraged to create “killer Web3 use cases to drive the adoption of Web3,” according to a joint press release.
The joint venture, which will be created in collaboration with Startale Labs, a Web3 development company, will provide value-added services for companies of the Sony Group in several key areas, including game and network services, music, pictures, entertainment technology and services, imaging and sensing solutions, and financial services.
Jun Watanabe, president of Sony Network Communications, commented on the future of this strategic alliance. He stated:
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.
Sona Watanabe, CEO of Singapore-based Startale Labs, believes this partnership will allow the new venture to focus on Web3 using Sony’s resources. He declared:
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.
Sony and Blockchain
Sony Network Communications has been involved in blockchain initiatives before. In February, the company reported the launch of a non-fungible token (NFT) and decentralized autonomous organizations (DAO) incubation program in partnership with Astar Network and Startale Labs, in which 10 to 15 projects using these tools would be selected to be funded.
Furthermore, Sony has also been entering the Web3 and metaverse markets, with the company declaring it would have a more comprehensive metaverse approach, even acquiring a 3D animation company to create a “metaverse around entertainment.”
The company has filed patents to use NFTs to track item changes in a game and to issue NFTs to showcase interesting moments in interactive games.
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