Astar Network, NTT Docomo Partner in $5 Billion Web3 Investment

Summary:
• Astar Network and NTT Docomo are partnering to promote Web3 adoption and growth, starting with Japan. We focus on their new $5 billion deal.

NTT Docomo, the largest mobile operator in Japan, is teaming up with Astar Network to accelerate the spread and widespread use of Web3. As part of their partnership, Astar Network and NTT Docomo will support efforts to address Web3’s technological, social, and organizational difficulties. This will facilitate the rapid expansion of Web3 in their home country of Japan. Furthermore, for the next five to six years, NTT Docomo will spend $5 billion on Web3 technology.

Astar Network and NTT Docomo and sustainable Web3 growth

The two businesses will launch a consortium that facilitates the use of tokens for governance by individuals and businesses. With investors becoming increasingly alert of their involvement with digital assets, governance has become a key component of Web3 that promotes decentralized decision-making. 

In particular, Astar Network and NTT Docomo have decided to work together on three foundational fronts: developing case studies for addressing economic and environmental concerns via Web3, fostering Web3 talent, and eliminating technology gaps and instability.

Astar Network CEO Sota Watanabe said:

“It is about making a society where more people can truly enjoy the benefits of Web3, not just engineers. Collaborating with NTT Docomo, a company that has created case studies that have been used by tens of millions of people, we will further spread Web3.”

Japan’s largest mobile provider, NTT DOCOMO, has over 84 million subscribers and is a global leader in developing mobile network technologies such as 3G, 4G, and 5G. NTT, the parent company of NTT Docomo, has the Japanese government as one of its largest shareholders. The government holds one-third of the firm’s shares.

The Astar Network, on the other hand, allows developers to build decentralized applications (dApps) using EVM and WASM smart contracts. Furthermore, it also provides them with genuine interoperability via cross-consensus messaging (XCM). Therefore, the partnership between the two companies will likely create a strong synergy for promoting Web3 adoption.