The Sony Group and Sony Network Communications collaborated on a project to develop a blockchain that will act as the "backbone of the global Web3 infrastructure." The new business, founded in conjunction with Web3 development startup Startale Labs, promises to offer "value-added services" across several industries.
Sony Network Announces Collaboration on Blockchain Project
The Sony Group company Sony Network Communications, which specializes in providing services for communications infrastructure, has stated that it has formed a cooperative venture to create a blockchain that would serve as "the backbone of the global web3 infrastructure." According to a joint press release, this new blockchain technology will be used to develop "killer Web3 use cases to drive the adoption of Web3."
The joint venture will offer value-added services for businesses of the Sony Group in a number of important areas, including game and network services, music, pictures, entertainment technology and services, imaging and sensing solutions, and financial services. It will be developed in cooperation with Startale Labs, a Web3 development company.
On the potential of this strategic partnership, Jun Watanabe, president of Sony Network Communications, made a statement. He declared:
With Startale Labs' expertise in Web3 and Sony Network Communications' experience in communication, IoT, AI, and solution services, we hope to build a worldwide infrastructure that supports the Web3 era and fosters innovation across many sectors of the economy.
The CEO of Singapore-based Startale Labs, Sona Watanabe, believes that by partnering with Sony, the new company will be able to concentrate on Web3. He proclaimed:
This joint company, which aims to co-develop a leading blockchain and its ecosystem, is based on the synergy of our individual assets and knowledge. We are committed to identifying Web3 trends and promoting them internationally.
Samsung and Sony
In the past, Sony Network Communications has taken part in blockchain projects. In conjunction with Astar Network and Startale Labs, the company announced in February the start of an incubation program for non-fungible tokens (NFT) and decentralized autonomous organizations (DAO), in which 10 to 15 projects utilizing these tools will be chosen for funding.
Additionally, Sony has been making inroads into the Web3 and metaverse marketplaces. The corporation claims it will take a more thorough approach to the metaverse, even buying a 3D animation business to create a "metaverse around entertainment."
The business has applied for patents to use NFTs to showcase exciting moments in interactive games and to track item changes in games.
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