Sony’s Blockchain Initiative: Soneium Network

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 into 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 stated 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. Notable early experimenters of the network include Circle, Optimism, Alchemy, The Graph, Chainlink, and the Astar Network.

Launched in 2023 as a joint venture between Sony Group Corporation and Startale Labs, the project was 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 enhance the new chain’s initial liquidity by integrating its zkEVM assets and underlying infrastructure with Soneium, Sony announced last week while teasing the testnet launch.

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

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