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- To foster the adoption of Web3, Sony Network Communications and Startale aim to establish a global infrastructure.
- Jun Watanabe, President and Representative Director of Sony Network Communications, has been appointed as a director of Startale Labs.
Startale Labs Pte Ltd, a Web3 technology firm focused on developing multichain applications and infrastructure, has secured $3.5 million in funding from Sony Network Communications Inc. through a private issuance of new shares. Startale Labs and Sony Network Communications will also explore opportunities for extensive commercial collaborations with the shared goal of building a worldwide infrastructure to facilitate the mainstream adoption of Web3.
Earlier this year, Sony Network Communications successfully co-hosted a Web3 Incubation Program alongside Startale Labs and Astar Network. They combined their resources and expertise to support Web3 initiatives that showcased the practical uses of NFTs and DAOs.
The investment will enable Startale Labs to enhance its recruitment efforts and continue the development of Web3 services and solutions. As a significant member of the Astar Network core team, Startale Labs possesses extensive experience in blockchain technology and plays a vital role in the Japanese Web3 landscape.
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Astar Network serves as the primary go-to-market infrastructure for developers in Japan, being the leading public blockchain in the country. It features advanced open-source financing methods and multichain smart contracts that facilitate an interconnected Web3.
Startale Labs empowers individuals and businesses to leverage blockchain technology in Japan, driven by the vision of establishing “Web3 for Billions.” Currently, there is a lack of infrastructure and tools that allow businesses to integrate their existing technology stack with the Web3 ecosystem. While there are specialized players in various sectors, including wallets, indexers, and node providers, comprehensive solutions are still necessary. Bridging real-world assets with the Web3 ecosystem remains challenging. Startale Labs and Sony Network Communications will collaborate to address these issues.
As part of the agreement, Jun Watanabe, president, chief executive officer, and representative director of Sony Network Communications, has been appointed as a director of Startale Labs.
Jun Watanabe, President and Executive Officer of Sony Network Communications Inc., stated, “I am excited to further strengthen our collaboration with Startale Labs, a company with advanced Web3 technologies and expertise. We have already been cooperating with Startale Labs by jointly hosting incubation programs, aiming to promote the development of Web3. With this capital partnership, we are merging Startale Labs’ knowledge and technical capabilities in Web3 with the experience and business fields cultivated by Sony Network Communications to create the infrastructure necessary to facilitate global Web3 adoption. We believe this partnership will contribute to the creation of new killer Web3 use cases and deliver unprecedented levels of value.”
Sota Watanabe, CEO of Startale Labs, remarked, “We are honored to enter into this partnership with Sony Network Communications, a company of the Sony Group that is renowned for its achievements across industries including gaming & networking services, music, film, entertainment technologies & service, imaging & sensing solutions and finance. With its wealth of IP and expertise in sectors adjacent to the creator economy, Sony Group has tremendous potential in the Web3 space, and we can’t wait to collaborate on tapping into that. We look forward to collaborating with Sony Network Communications to develop global Web3 infrastructure and creating groundbreaking Web3 use cases.”
With a strong commitment to “Supporting human change and infrastructure” within the Internet telecommunications sector, Sony Network Communications is recognized for providing innovative infrastructure, such as the fiber-optic internet service NURO Hikari. The company, which is part of the Sony Group, has also developed high-quality services and amassed a diverse array of well-known IP.
