Sony Prepares to Launch Public Blockchain Soneium
Sony, a global tech leader, has officially announced the development of its own public blockchain called Soneium. This move comes nearly a year after Sony shared its plans to enter the blockchain space. The company is now gearing up to launch a testnet for Soneium, which is a major step toward making Web3 services mainstream.
Sony’s Partnership with Startale Labs
Last year, Sony partnered with Startale Labs, the creator of the Astar Network, to bring its blockchain vision to life. As part of this partnership, Sony invested heavily in the project, owning 90% of the Singapore joint venture called Sony Block Solution Labs. This joint venture is responsible for developing Soneium and aims to lead the way in blockchain innovation.
Why Soneium Matters for Sony
Sony has a vast amount of content across its various divisions, including Sony Pictures (formerly Columbia Pictures), Sony Music, and Sony PlayStation. With Soneium, Sony plans to leverage this content to create exciting Web3 apps that can attract people who have never used Web3 services before. By using its popular entertainment assets, Sony hopes to make Web3 technology more accessible and engaging.
Apart from using its own content, Sony also wants to empower creators and developers. The company believes that by providing innovative tools and platforms, it can help content creators reach new heights and connect with their audiences in new ways.
Sony’s Vision for Web3
Sony sees a future where Web3 technology becomes a natural part of everyday life. Sota Watanabe, the Director of Sony Block Solution Labs, stated that the success of Web3 will depend on whether companies like Sony can create solutions that billions of people use daily. Sony believes that Soneium has the potential to lead the world in this area and is eager to collaborate with developers and companies across different countries and industries.
How Soneium Works
From a technical perspective, Soneium is built as a layer 2 (L2) Ethereum blockchain using Optimism technology. This is the same technology used by Coinbase’s Base blockchain. Unlike the Astar Network, which operates on the Polkadot parachain, Soneium will be an Ethereum-based blockchain. Startale Labs has announced plans to transition the Astar Network to Soneium L2, further expanding Sony’s presence in the blockchain space.
Sony’s Expanding Web3 Ambitions
Sony’s Web3 ambitions don’t stop with Soneium. The company has also shown interest in the metaverse. In the past, Sony created a virtual world called PlayStation Home during the early days of the metaverse. While metaverse experiences haven’t yet become mainstream, Sony believes they will eventually gain traction.
In March 2023, Sony partnered with Startale Labs to launch a Web3 incubator. This incubator supports the development of new Web3 projects and technologies. Sony has also launched an NFT marketplace called SNFT and acquired a cryptocurrency exchange that has been rebranded to S.BLOX. Additionally, Sony Bank has introduced a Web3 app that uses NFTs as incentives to engage users. The company is also exploring the possibility of launching a stablecoin on the Polygon blockchain. Once Soneium is live, it’s expected that many of these projects will transition to the new blockchain.
Soneium’s Role in Sony’s Future
Sony Block Solution Labs has big plans for Soneium. The platform is designed to be the foundation of Web3, the next generation of the internet that focuses on decentralization. Soneium will be a publicly accessible network, integrated with various businesses and intellectual properties within the Sony Group. The goal is to create Web3 services that can be used in everyday life, solving the current challenges faced by the technology, such as limited user adoption and the lack of mainstream use cases.
By using Soneium, Sony aims to offer comprehensive Web3 solutions, from infrastructure to application layers. Unlike traditional internet services, Soneium will provide users with more control over their activity history. Through Soneium-compatible applications, users will be able to interact with Web3 games, NFT marketplaces, and entertainment services directly from their digital wallets.
Empowering Creators and Fans
Another key focus of Sony Block Solution Labs is to expand the capabilities of creators and strengthen engagement with fan communities through Soneium. This includes protecting content rights, creating new revenue streams for both creators and fans, and providing opportunities for creators to operate across both digital and real-world platforms.
Sony is committed to supporting developers who want to build on Soneium. To do this, the company plans to launch a Soneium testnet soon. This will allow developers to experiment with the technology and co-create applications that leverage the full potential of Soneium.
A Future Powered by Soneium
In the long term, Sony envisions a future where Web3 services, powered by Soneium and integrated with Sony Group’s various businesses, become a part of daily life for people who have yet to experience this new technology. By utilizing blockchain and expanding Web3 services, Sony aims to create innovative applications that offer new value to users, making Web3 a seamless part of everyday experiences.
With Soneium, Sony is positioning itself as a leader in the Web3 space. The company’s extensive experience in entertainment, combined with its commitment to blockchain technology, makes it well-equipped to drive the next wave of innovation. As Soneium evolves, it will be exciting to see how Sony’s Web3 development unfolds and how the company’s vision for the future of the internet takes shape.
With the launch of Soneium on the horizon, Sony is not just entering the blockchain world; it’s setting the stage for a new era of Web3.
