Sony Makes Blockchain Move as Japanese Firms Flood to Web3 Space

Sony Makes Blockchain Move as Japanese Firms Flood to Web3 Space

Sep 13, 2023

By Tim Alper | @tim-alper

The Japanese electronics and entertainment giant Sony will develop a blockchain network, making it the latest company from the nation to move into the Web3 space.

The company’s IT subsidiary Sony Network Communications will work on the project, alongside a Singapore-based firm named Startale Labs.

Per Nikkei and an official Startale Labs release, the companies agreed to co-launch a joint venture firm named Sony Network Communications Labs later this month.

Until recently, Sony Network Communications has focused most of its attention on the Internet of Things (IoT) market.

But the subsidiary now looks set to pivot to the blockchain sector.

On X (Twitter), the Japanese CEO of Startale called the Sony announcement “a historic” event.

He added:

“We will […] jointly develop Sony's blockchain with Sony. As Coinbase’s Base [layer 2 mainnet] grows, the Sony network will have the potential to surpass it and become the world’s top project. More details will be released in time.”