SKY Perfect JSAT & Crypto Garage to jointly develop web3 business

SKY Perfect JSAT and Crypto Garage have reached a basic agreement to co-create web3 business and services targeting the creator economy.

As the internet has developed over the years, many platforms have emerged that allow anyone to express themselves freely. In 2023, the creator economy market in Japan reached 1,655.2 billion yen, a 21.9% increase over 2022. The market is experiencing rapid growth driven by the increasing popularity of services that enhance the connection between users and creators, such as gifting and fan community subscriptions. This creates more opportunities for users to pay creators directly, providing greater support for them to earn a stable revenue stream. Moreover, web3 technology has empowered creators to independently manage and monetize the copyrights of their works. As a result, Japan’s creator economy market is poised to garner increasing attention as a hub for innovative value creation.

For nearly 30 years, SKY Perfect JSAT has operated Japan’s largest Multi-channel Pay TV broadcasting platform, “SKY PerfecTV!”, and the on-demand video streaming platform, “SPOOX ,” offering a wide range of video content. Leveraging this extensive expertise, SKY Perfect JSAT will support creators in this new era to share the captivating content they produce for a broader reach.

Crypto Garage is developing blockchain backend services to support the easy and smooth construction of web3 services and the research and development of blockchain financial services. Utilizing its technical skills and expertise, Crypto Garage contributes to solving clients’ difficulties and building the systems of the future.

Based on the agreement on the business plan, SKY Perfect JSAT and Crypto Garage will initiate a Proof of Concept (PoC) for a “creator support platform” in January 2025. This PoC aims to validate the motivations and factors that drive behavioral changes in creators and viewers. The ultimate goal is to foster sustainable creator development and drive growth in the creator economy through this demonstration experiment.

SKY Perfect JSAT and Crypto Garage will collaborate to develop the web3 business, using blockchain and web3 technologies as tools to support the next generation of creators. Their aim is to create an ecosystem that strengthens the connection between creators and viewers.

Please follow us to read more about Finance & FinTech in Japan, like hundreds of readers do every day. We invite you to also register for our short weekly digest, the “Japan FinTech Observer”, on Medium, on LinkedIn, or on Substack.

We also provide a daily short-form Japan FinTech Observer news podcast, available via its Podcast Page. Our global Finance & FinTech Podcast, “eXponential Finance” is available through its own LinkedIn newsletter, or via its Podcast Page.

Should you live in Tokyo, or just pass through, please also join our meetup. In any case, our YouTube channel and LinkedIn page are there for you as well.