Sony Launches Soneium Blockchain to Attract Web3 Developers

Sony Block Solutions Labs, a joint venture between Sony Group and Singapore-based Startale Labs, has announced the development of a new layer 2 blockchain called “Soneium”, which aims to attract app developers across a range of sectors including entertainment, gaming, and finance.

According to a joint statement from Sony Group and Startal, the Soneium testnet will be introduced in partnership with Astar Network.

Sony Group has been experimenting with integrating Web3 technologies into its operations. The foray into the blockchain space could further boost Web3 adoption. Jun Watanabe, president of Sony Blockchain Solutions Lab, explained the initiative, saying:

“We will strive to create diverse businesses and new use cases to deliver the customer value that only Web3 technology can provide to as many users as possible.”

Partnership 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. Collaborating with industry players is expected to enhance Soneium’s capabilities across a range of blockchain functions.

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According to the announcement, the Sonneum testnet will provide built-in tools to help developers build compliant applications that adhere to global regulations.

“Sony Group has strong distribution channels across multiple industries and has existing users in everyday life. Through Soneum, we will create what people want and bring it beyond Web3 into the mainstream,” said Sota Watanabe, director of Sony Block Solutions Lab.

The initiative will explore applications for existing Web3 services that will be compatible with Soneium in the future, while also considering new services tied to businesses within the Sony Group.

Sony’s other Web3 initiatives

Other initiatives leveraging Web3 technologies from the Sony Group include the video game division filing a patent in March 2023 to adopt non-fungible tokens (NFTs) in an “NFT framework for transferring and using digital assets across gaming platforms.” The move was an effort to provide gamers with more opportunities to engage with in-game assets.

Japan, Sony’s home base, has also been strengthening its Web3 community. The Ministry of Economy, Trade and Industry aims to increase strategic domestic investment in Web3 startups by allowing limited partnerships to acquire and hold crypto assets.

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