Samsung Next, the venture capital division of the South Korean tech giant, has announced its participation in the Soneium Spark program through an investment in Singapore-based Startale Labs.
Though the details of the investment remain undisclosed, a Samsung Next investor, John Yim, shared in a blog post that the support for Startale Labs is aimed at bolstering their efforts in addressing critical challenges within the Web3 ecosystem like
“lack of transparency, security vulnerabilities, and barriers to entry for new participants”.
According to Yim,
“Startale Labs plays a pivotal role in Web3’s growth and adoption. By providing the necessary infrastructure and tools, they are helping to build the foundation for a decentralized future that promises greater autonomy and innovation across industries.”
Yim noted that Samsung Next is excited to participate in the Soneium Spark Incubation Program, which he described as
“a builder-focused initiative dedicated to nurturing visionary creators and innovators.”
Notably, Startale Labs recently formed a joint venture with Sony Group to develop the Soneium blockchain to create a robust and scalable platform capable of supporting the next generation of dApps. Sony stated that Soneium aims to make Web3 more accessible while providing a range of meaningful use cases. The network will utilize optimistic rollups built with the Optimism OP stack and incorporate the underlying infrastructure of Startale’s Astar zkEVM.
This is not Samsung’s first rodeo in the web3 sector. It has already established various notable collaborations as part of its aim to maintain its status in the tech industry. Last year, the tech giant partnered with the Polygon-based streaming service Savage to launch its app on Samsung smart TVs, providing Web3 users with access to high-quality photos and videos. In a statement shared on Twitter, Savage expressed that this partnership with Samsung would enhance the Web3 solutions it currently offers, further advancing its capabilities in the digital streaming space.
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