Astar Network’s developer to set up new Web3 company 

Stake Technologies, which develops Japan’s public blockchain Astar Network, has plans to create a new company focusing on Web3 business and product development in Asia, according to its chief executive Sota Watanabe.

The new company, to be named Startale Labs, will be established by the end of January and will be based in Singapore and Japan. Unveiling his plan, Watanabe said 2022 was the starting year of Web3 and 2023 will be the year for its mass adoption. 

While demands for Web3 services have increased and many companies have entered the market, the number of companies and engineers with related expertise remain small to meet the demands, he added.

Startale Labs also aims to acquire a position similar to ConsenSys, a blockchain software company based in North America, and Parity, a European blockchain developer. 

Astar Network is a dApps (decentralized applications) platform, Japan’s first and Japan-originated public blockchain. In September 2022, ASTR, a crypto asset developed by Stake Technologies, was listed on the crypto asset exchange bitbank.

The company aims to promote Web3 in Asia by providing research and development (R&D) and consulting services to companies.