Startale Labs to develop a blockchain with Sony in a joint venture

Quick Take

After securing seed funding in June, Startale Labs is joining with Sony to create a blockchain and push for greater web3 adoption.

Startale Labs plan to develop a blockchain through a joint venture agreement with Sony Network Communications and "focus on creating killer web3 use cases to drive the adoption of web3."

"We are excited to announce the establishment of this joint venture with Startale Labs, a company renowned for its advanced Web3 technology and expertise," Sony Network Communications President and Representative Director June Watanabe said, in a press release.

"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," he added.

Sony Network Communications is a subsidiary of the Sony Group. The subsidiary also has a Singapore entity dedicated to NFT development outsourcing and consulting.

Sony goes web3

Startale Labs secured $3.5 million in seed funding from Sony Network Communications through a private placement of new shares in June, when Jun Watanabe was appointed as director of the tech company.

"Following our capital partnership with Sony Network Communications in June and the subsequent announcement of this joint venture, we are looking forward to collaborating more deeply," Startale Labs CEO Sota Watanabe said.

"This joint venture is founded on the synergy of our respective assets and knowledge, aimed at co-developing leading blockchain and its ecosystem," he continued, adding: "We are determined to discern web3 trends and drive them globally."

Startale Labs previously collaborated with Sony Network Communications on an incubation program for Web3 projects earlier this year.