Sony Launches Soneium Testnet and Incubation Program, Expanding Web3 Presence with Major Blockchain Initiative
Sony Block Solutions Labs introduces the Soneium network’s testnet and developer incubation program, marking a significant step in its Web3 strategy. The Ethereum Layer 2 blockchain, designed for cost-effective development of consumer applications, will feature early participation from major players like Circle and Astar Network. Sony also plans to integrate the ASTR token on the Minato testnet and leverage its subsidiaries’ expertise in the Soneium Spark program, offering up to $100,000 in seed capital to applicants. Additionally, Sony’s Quetta Web Co. prepares to rebrand and relaunch the WhaleFin exchange.
Because Bitcoin
August 28, 2024
The Block reported that Sony's blockchain division, Sony Block Solutions Labs, is set to debut a testnet and developer incubation program for its Soneium network. This initiative represents a key step in Sony Group Corporation’s Web3 expansion, aimed at fostering ecosystem growth and accelerating adoption through its extensive global reach and technological expertise in entertainment, gaming, and consumer electronics.
The Soneium blockchain operates as an Ethereum Layer 2 solution based on the Op Stack, designed to offer a “cost-effective development environment” for consumer-grade applications. Early participants in this network will include Circle, Optimism, Alchemy, The Graph, Chainlink, and Astar Network.
Launched in 2023 as a joint venture between Sony Group Corporation and Startale Labs, the project has recently been entrusted to Sony Network Communications Labs. The companies also plan to incorporate the ASTR token as a “key asset” on the EVM-compatible Minato testnet.
In addition, Astar Network will integrate its zkEVM assets and infrastructure with Soneium to enhance the new chain’s initial liquidity. Sony's recent announcement included plans for the Soneium Spark incubation program, where participants from Sony subsidiaries such as Sony Music, Sony Pictures, and the Sony Innovation Fund will be involved. Applicants can secure up to $100,000 in seed capital and gain access to a network of exchanges and venture capitalists.
Furthermore, Sony subsidiary Quetta Web Co. is preparing to rebrand and relaunch its recently acquired cryptocurrency exchange, WhaleFin, later this year.
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