Sony Launches Soneium: A New Era for Web3 Development

MetaversePlanet August 27, 2024Last Updated: August 27, 2024

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Sony’s new Layer-2 blockchain, “Soneium,” aims to attract developers in the Web3 space.

Sony Block Solutions Labs, a joint venture between Sony Group and Singapore-based Startale Labs, has announced the development of “Soneium,” a new Layer-2 blockchain. The platform is designed to bring together app developers from various industries, including entertainment, gaming, finance, and more.

In a joint statement, Sony Group and Startale revealed that Soneium’s testnet will be launched in collaboration with Astar Network.

Sony Group has been exploring the integration of Web3 technologies into its operations, and the launch of Soneium could potentially drive wider adoption in the blockchain space. Jun Watanabe, President of Sony Block Solutions Labs, stated:

“We aim to create new business models and use cases that will unlock customer value through Web3 technologies, making these benefits accessible to as many users as possible.”

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Collaborations will improve Soneium’s competencies

Web3 companies such as Optimism, Circle, Alchemy, The Graph, and Chainlink have joined Soneium’s testnet launch as technology partners. This collaboration with key industry players is expected to enhance Soneium’s blockchain capabilities.

According to the announcement, Soneium’s testnet will provide developers with the tools they need to build applications that comply with global regulations.

Sota Watanabe, Director of Sony Block Solution Labs, stated: “The Sony Group has established channels in various industries and a strong presence in our daily lives. With Soneium, we aim to deliver what people want and reach large audiences beyond the Web3 community.”

Looking ahead, the startup plans to explore applications for existing Web3 services compatible with Soneium and will assess new services related to businesses within the Sony Group.

Sony’s other Web3 businesses

Sony Group’s other web3-related businesses include the video games division’s filing for a patent in March 2023 to establish an “NFT framework for the use and transfer of digital assets on gaming platforms.”

Sony’s home country of Japan is likewise busy accelerating Web3 communities. By allowing limited liability companies to buy and hold crypto assets, the Ministry of Economy, Trade and Industry plans to refine strategic domestic investments by Web3 startups.