While Meta has grand plans for the metaverse, few groups are as well positioned as Sony to make their mark in the metaverse. It owns Sony Pictures (formerly Columbia Pictures), Sony Music, Sony PlayStation, Sony Bank and more. Last week Sony announced it’s forming a joint venture with web3 startup Startale Labs to build its own blockchain, where it plans to leverage its properties in the metaverse.
Sony’s global ambitions are clear. It said its blockchain “can become the backbone of global web3 infrastructure”. It doesn’t just talk about web3 and the metaverse but about “creating the foundation for digital societies”.
In June, Sony Network Communications invested $3.5 million in Japanese blockchain firm Startale Labs. The startup’s CEO also founded the Astar Network, a multichain smart contract platform, which is one of the Polkadot blockchain’s parachains.
Article continues …
Want the full story? Pro subscribers get complete articles, exclusive industry analysis, and early access to legislative updates that keep you ahead of the competition. Join the professionals who are choosing deeper insights over surface level news.
