Sony Network Communications, a subsidiary of Sony, has invested $3.5 million in Startale Labs, a Singapore Web3 tech company, through a private placement of new shares. This strategic collaboration aims to establish the necessary infrastructure for global adoption of Web3, leveraging Sony’s expertise in telecommunications and other sectors. The capital infusion will be used to hire new talent for the development of products and services in the Web3 space. Startale Labs’ mission is to create “Web3 for Billions” by promoting blockchain technology adoption in Japan. This partnership with Sony Network Communications is expected to create new use cases and deliver significant value. Earlier this year, Sony’s subsidiary partnered with Astar Network to host incubation programs for Web3 advancement. The program aimed to support projects in the Web3 spectrum, focusing on non-fungible tokens and decentralized autonomous organizations. The Web3 incubation program was open to users worldwide from mid-March to mid-June.
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