Sony’s IT subsidiary joins forces with Startale Labs to establish a blockchain network and venture into the Web3 space.
Sony, the renowned Japanese electronics and entertainment conglomerate, has announced its foray into the world of blockchain technology, marking another significant move by a Japanese company into the burgeoning Web3 space. Sony Network Communications, a subsidiary specializing in IT services, will lead this pioneering initiative in collaboration with Singapore-based firm Startale Labs. The companies are set to unveil their joint venture, Sony Network Communications Labs, later this month.
Historically, Sony Network Communications had concentrated its efforts on the Internet of Things (IoT) sector. However, this recent development signifies a strategic shift towards blockchain technology.
On X, the Japanese CEO of Startale expressed his excitement, labeling Sony’s announcement as “historic.”
Sony has articulated its vision for its subsidiary to leverage its expertise in IoT, artificial intelligence (AI), and solution services to establish a global infrastructure that underpins the Web3 era.
This move builds upon Sony’s involvement in the blockchain space since 2018 when the company began exploring blockchain-powered solutions for managing digital content rights. In 2020, Sony initiated pilot projects for blockchain-powered platforms for Japanese pop (J-pop) groups affiliated with its Sony Music Group.
Sony now joins a growing cohort of Japanese corporations enthusiastically entering the Web3, blockchain, metaverse, and NFT arenas. Just recently, Casio, renowned for its watches and electronics, unveiled plans to launch an NFT collection linked to its G-Shock watch line. Sportswear giants Mizuno and Asics have also disclosed their intentions to dive into the world of non-fungible tokens (NFTs).
Sony’s blockchain venture represents a significant stride toward the intersection of technology, entertainment, and blockchain innovation. As the global Web3 ecosystem continues to evolve, Japanese companies like Sony are embracing the opportunities presented by blockchain technology and the broader Web3 space.
