Sony Enters Crypto Market
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Sony Group (market value $100 billion) has acquired Amber Japan with the aim of entering the crypto market.
Last year, Sony acquired from a now non-working crypto exchange called Whalefin from Amber Group, and is now planning to restart it.
The terms of the deal have not been undisclosed, and neither Sony nor Amber comment.
Sequoia China, Pantera, and others led a $200 million Series C in Amber Group in Feb 2022, which put its valuation at $3 billion.
Amber Japan is rebranding to S.BLOX, as per the recent Whalefin's notice that also added that Amber Japan was acquired by Sony's unit Quetta Web in August 2023.
Sony has already attempted to tip its toes in crypto through partnerships and investments, notably with Astar Network and a patent filing regarding NFT transfers.
The conglomerate’s recent foray into crypto signals interests in subsectors like trading, as well as NFT transfers between consoles and platforms, NFT-locked actions and gameplay, limited-use tasks, and rewards.
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