Sony Block Solutions Labs, a joint venture between the Sony Group and Singapore-based Startale Labs, has announced the development of the new layer-2 blockchain, “Soneium.” The blockchain aims to attract app developers from various sectors, including entertainment, gaming, finance and more.
According to a joint statement by Sony Group and Startale, the Soneium testnet would be introduced through a partnership with Astar Network.
The Sony Group has been experimenting with incorporating Web3 technologies in its operations, and its entry into the blockchain space could further bolster Web3 adoption. Explaining the initiative, Jun Watanabe, chairman of Sony Block Solutions Labs, said:
“We will work to create diverse businesses and new use cases with the aim of reaching as many users as possible with the customer value that can be enjoyed only with Web3 technology.”
Partnerships to improve Soneium’s capabilities
Web3 companies, including Optimism, Circle, Alchemy, The Graph and Chainlink, have joined as technology partners for Soneium’s testnet launch. Collaborations with industry players are expected to improve Soneium’s capabilities across various blockchain functionalities.
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According to the statement, soneium testnet will offer built-in tools to help developers navigate global regulations to create compliant applications.
“Sony Group has strong distribution channels in multiple industries and existing users in our daily lives. Through Soneium, we will make something people want and go mainstream beyond Web3,” said Sota Watanabe, director of Sony Block Solution Labs.
Source: Soneium
The initiative will explore applications for existing Web3 services compatible with Soneium in the future while also considering new services linked to businesses within the Sony Group.
Sony’s other Web3 initiatives
The Sony Group’s initiatives with other Web3 technologies include its video game division filing a patent in March 2023 to adopt non-fungible tokens at the “NFT framework for transferring and using Digital Assets between game platforms” initiative. This move was in an effort to provide its gamers with more opportunities associated with their in-game assets.
Japan, Sony’s home country, has also been boosting its Web3 community. The Ministry of Economy, Trade and Industry aims to increase strategic domestic investments into Web3 startups by allowing limited partnership firms to acquire and hold crypto assets.
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