Sony’s blockchain division, Sony Block Solutions Labs, is making a bold move into the world of Web3. It has announced the launch of its Soneium blockchain network’s testnet and developer incubation program.
The Soneium blockchain is built as an Ethereum Layer 2 on the Op Stack and it aims to offer a cost-effective development environment for creating consumer-grade applications. It has partnered with Circle, Optimism, Alchemy, The Graph, Chainlink and Astar Network to experiment with the platform. It is therefore evident that Sony is serious about strengthening a robust ecosystem around its new blockchain.
The project is a collaboration between Sony Group Corporation and Startale Labs. Their partnering started in 2023 and has lately been awarded to Sony Network Communications Labs. A key feature of the new network is the integration of the ASTR token on the EVM-compatible Minato testnet. The Astar Network’s zkEVM assets and infrastructure is also learned to be integrated in enhancing the initial liquidity of the chain. It signals the commitment of Sony to create a vibrant and functional blockchain environment from the start.
Sony’s subsidiaries such as Sony Music, Sony Pictures and the Sony Innovation Fund will also be playing an important role in the new venture through the Soneium Spark incubation program. The program aims to support innovative projects by providing up to $100,000 in starting capital and even access to a network of exchanges as well as venture capitalists. Sony is diversifying its involvement in the blockchain space and also ensuring that its entry into Web3 is comprehensive as well as well-supported by involving its subsidiaries.
Sony is also simultaneously rebranding and relaunching the cryptocurrency exchange WhaleFin. WhaleFin was previously acquired by its subsidiary Quetta Web Co.
