Sony Network Communications and Startale Labs Form Joint Venture for Blockchain Development

Sony Network Communications, a subsidiary of Sony, has announced a partnership with crypto tech firm Startale Labs to develop a blockchain platform.

The joint venture, named Sony Network Communications Labs Pte. Ltd., will leverage Startale’s expertise in Web3 technology and Sony’s experience in IoT, AI, and solution services to create a global infrastructure for the Web3 era. The venture has a capital of 1 million SGD (approximately $733,000), with Sony owning 90% and Startale holding 10%.

While the joint venture aims for ambitious goals of connecting generations and contributing to digital societies, Sony’s specific blockchain use cases remain unclear. Startale Labs, known for the Polkadot parachain Astar Network, believes the upcoming Sony blockchain has the potential to rival Coinbase’s Base blockchain.

Clever Robot News Desk 14^th September 2023