Sony invests $3.5 million into layer-1 blockchain developer Startale Labs

Sony, the Japanese juggernaut with its hands in video games, consumer tech, and even banking, has invested $3.5 million in Startale Labs, the developer behind one of Japan's homegrown blockchains. The investment is direct and there are no other backers in the round, Sota Watanabe, the CEO of Startale, told Fortune. He declined to provide the company's implied valuation. "We have already been cooperating with Startale Labs by jointly hosting incubation programs, aiming to promote the development of Web3," Jun Watanabe, president and executive officer of Sony's internet arm, said in a statement. "With this capital partnership, we are merging…