Sony joins the ranks of Japanese companies that are moving into the Web3 era with its announcement that it will develop a blockchain network.
Its IT subsidiary, Sony Network Communications, will work on the project along with Startale Labs, a Singapore-based company that develops distributed ledgers.
The companies will form a joint venture firm named Sony Networks Communications Labs.
Startale Labs sees the alliance as a significant move and says it will jointly develop the blockchain with Sony.
Other Japanese firms looking to make a splash in the scene include Nissan, which earlier this year launched a “digital Web3 platform” for car racing fans.
The Nissan rival Toyota held a Web3 hackathon in April using the Astar blockchain protocol.
And in June, Honda signed a partnership with the startup Animoca Brands.
Sony joins a growing list of Japanese firms throwing their hats into the World3, blockchain, metaverse, and NFT markets.
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