Sony is intensifying its Web3 and blockchain technologies exploration with a $3.5M investment in Startale Labs, a Japanese Web3 tech company.

 

Sony is intensifying its Web3 and blockchain technologies exploration with a $3.5M investment in Startale Labs, a Japanese Web3 tech company.  Sony Network Communications Inc., a subsidiary of Sony Group, is funding $3.5M to expand Web3 infrastructure globally. Sony has been increasingly involved in Web3, including filing a patent to make NFTs transferable between games and consoles and partnering with California-based Theta Labs to create NFTs for VR headsets. The funding signifies Sony's commitment to Web3 and its belief in the potential of blockchain technologies, NFTs, decentralized autonomous organizations, and the metaverse. Startale Labs CEO Sota Watanabe expressed excitement about the capital alliance with Sony and hinted at future collaborations and business tie-ups. The funding announcement follows a Web3 startup incubation project jointly hosted by Sony, Startale Labs, and Astar Network.  Last year, Theta Labs teamed up with Sony to launch two 3D NFTs designed for use with the Sony Spatial Reality Display (SRD).