As the technology continues to evolve, several groups are working hard to be key drivers of this technological growth. One company that continues to play a role is Sony. Last year, the company announced it was partnering with Web3 startup Startale Labs to build its own blockchain.
Simply put, a blockchain is a transaction ledger shared among multiple computer network nodes that is used to keep records of past transactions and ensure that the data contained within cannot be tampered with.
Blockchain is very well known for the role it plays in digital currencies such as Bitcoin. However, its use cases can be implemented in a variety of areas. Today, cryptocurrencies play a much bigger role in people’s lives than in the past. Several organizations have already started accepting cryptocurrencies for payments for various transactions, such as online shopping and acquiring real estate. It is also easier than ever to find online casino sites that accept Bitcoin. At these cryptocurrency casinos, players can make purchases, bets, and withdraw winnings using cryptocurrencies. Apart from online shopping, gaming, and real estate, cryptocurrencies can also be used to book trips, buy clothes, and even buy cars.
That being said, experts always recommend first fully understanding how cryptocurrencies work before diving into the world of crypto shopping, crypto gambling, or buying real estate with digital currencies.
In Sony’s latest venture deal, a blog post from Startale Labs stated that the two companies are focused on building a blockchain that will be the “backbone of global Web3 infrastructure.” The partnership was announced in September 2023.
Web3 is a popular term that describes the next generation of the World Wide Web (Internet). This new advancement will function as a more decentralized Internet, utilizing blockchain technology and crypto tokens.
Sony’s partnership with Startale Lab will see the two companies become key drivers in the adoption of Web3. Additionally, Sony also plans to leverage blockchain across the Metaverse, a virtual, immersive 3D world where users can work, shop, game and interact with each other.
This makes perfect sense, considering the company has a number of groups that could be brought into the metaverse: For example, the company owns Sony PlayStation, Sony Pictures, Sony Bank, Sony Music, etc. All of these brands would be perfect fits into the digital metaverse world.
Additionally, while Sony has developed a range of gaming VR headsets, it also has a project with a different purpose in the works: Sony and Siemens are currently collaborating to develop an immersive VR headset for the industrial metaverse. The final product will be a Sony head-mounted display that runs on Siemens’ Xcelerator design software.
On the tech side, the headset will feature a 4K OLED microdisplay and controllers that will allow the wearer to interact with various 3D objects. At the time of writing, the VR headset is scheduled for a release later this year in December.
Sony has not yet revealed any plans for further development of the blockchain or the metaverse, but recently announced that it would own the cryptocurrency exchange “S.BLOX”. This all dates back to mid-2023, when Sony acquired the company Amber Japan. Initially, everything in the organization was operating as usual.
However, it was announced that Japanese cryptocurrency exchange WhaleFin, whose parent company is Amber Japan, will change its name to S.BLOX on July 1, 2024. This will make Sony the owner of the cryptocurrency exchange.
In a statement, S.BLOX said it has implemented several changes to its cryptocurrency offering since the acquisition, and that it is working hard on new developments with the cooperation of multiple Sony Group businesses.
After all, it’s clear that Sony is a driving force in Web3 adoption and could be in a position to have a major impact on the ever-expanding metaverse. While Sony is keeping many of its cards under wraps, it’s exciting to think about what’s in store for the future.
