Japan’s multi-industry conglomerate Sony Group is venturing into the blockchain space with the launch of its own network.
Sony Block Solutions Labs, a joint venture between Sony Group and Singapore-based Startale Labs, announced on Friday the development of a new layer-2 blockchain network atop Ethereum called Soneium.
Soneium plans to deliver Web3 applications across sectors like entertainment, gaming, and finance, leveraging Sony’s extensive global reach in the Web2 space, according to a statement from Sony Block Solutions Labs.
Soneium is set to go live on a test network soon, using optimistic rollup technology. This approach allows users to conduct transactions on networks built on top of Ethereum at a lower cost.
The network will be built using the Optimism blockchain ecosystem’s OP Stack, a customizable toolkit that lets developers create their own networks. These networks can connect to others within the Optimism ecosystem through the “Superchain,” enabling seamless interaction and scalability across different platforms.
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Sota Watanabe, Founder of Astar Network and Director of Sony Block, stated, “Sony Group has strong distribution channels in multiple industries and existing users in our daily lives. Through Soneium, we will make something people want and go mainstream beyond Web3.”
The joint venture is currently preparing for Soneium’s testnet launch, although an exact date has yet to be announced. Sony Block indicated that technical details, including the platform’s tools and requirements for developers, will be released in the coming weeks.
To support the testnet launch, Astar Network’s zkEVM will integrate its assets and infrastructure to boost the new blockchain’s initial liquidity. Soneium’s future applications are expected to include protecting rights for creator-generated content and developing fair profit-sharing mechanisms between creators and fans.
Sony is also set to launch a local crypto trading platform in Japan by revamping the local trading platform WhaleFin, which it acquired last year.
The crypto trading entity originally began as the Japanese crypto exchange DeCurret, which was acquired by the Japanese subsidiary of Singapore’s Amber Group in 2022. In August 2023, Sony’s wholly-owned subsidiary Quetta Web Co. acquired the platform.
Sony has been actively expanding its presence in the Web3 space. Last year, Sony Network Communications partnered with Japanese blockchain firm Startale Labs to build Sony’s own public blockchain network.
