Sony's Blockchain Initiative

Sony’s blockchain division, Sony Block Solutions Labs, is launching a testnet and developer incubation program for its Soneium network.

“This dual initiative marks a significant milestone in Sony Group Corporation's entry in Web3, poised to catalyze ecosystem growth and accelerate adoption by leveraging its vast global reach and technological expertise across entertainment, gaming, and consumer electronics sectors,” the company wrote in a press release.

The Soneium blockchain is an Ethereum Layer 2 based on the Op Stack designed to provide a “cost-effective development environment” for building consumer-grade applications. Circle, Optimism, Alchemy, The Graph, Chainlink, and the Astar Network will all be early experimenters of the network.

The project, a joint venture between Sony Group Corporation and Startale Labs, was launched in 2023 and recently awarded to Sony Network Communications Labs. The companies also plan to integrate the ASTR token as “a key asset” on the EVM-compatible Minato testnet.

Additionally, Astar Network will integrate its zkEVM assets and underlying infrastructure with Soneium to boost the new chain’s initial liquidity, Sony said last week while teasing the testnet launch.

Sony subsidiaries, including Sony Music, SONY Pictures, and the Sony Innovation Fund, among others, will participate in the Soneium Spark incubation program. Applicants will receive up to $100,000 in starting capital and gain access to a network of exchanges and venture capitalists.

Sony subsidiary Quetta Web Co. previously acquired cryptocurrency exchange WhaleFin, which it plans to rebrand and relaunch this year.