Hakuhodo, Astar Network to establish new Web3 company

Japan-based advertising and public relations agency Hakuhodo will establish a new joint venture with Stake Technologies, the developer of the Astar Network, by the end of this year.

The new company will focus on providing support for companies planning to enter the Web3 market, Hakuhodo said on September 27.

The joint initiative follows a record of previous collaborations between Hakuhodo and Stake Technologies. In July, the two companies took part in a collaboration with Calbee and Crypto Games in the NFT game Astar Farm, involving 10,000 users.

In addition to providing solutions to companies, Hakuhodo aims to leverage its creative edge to strengthen the collaboration in the future.

Sota Watanabe, chief executive of Stake Technologies, said, “We are confident that the creation of this joint venture with Hakuhodo will help Astar Network create more use cases in Japan and around the world.”

“We will continue to strengthen our partnership with Hakuhodo and other companies in order to make a network in which hundreds or thousands of companies can participate.”

Stake Technologies listed its crypto asset “ASTR” on the crypto exchange Bitbank on September 26. The token is based on a Polkadot parachain that connects different blockchains.