Sony Group has unveiled its new blockchain initiative, Soneium, developed in partnership with Startale Labs. Soneium is an Ethereum Layer-2 blockchain designed to enhance scalability and user experience. It also aims to make blockchain technology accessible to a broader audience.

Soneium will be useful for Web3 projects across the entertainment, gaming, and finance industries. This move employs Sony’s strong Web2 ecosystem as a means to promote the use of blockchain technology. Sony Block Solutions Labs, the team behind the project, stressed that owing to Sony’s distribution advantages and a built-in audience, Soneium could become a mainstream product.

Watanabe, the founder of Astar Network and director of Sony Block Solutions Labs stated that Sony Group has good distribution networks and constant users of the products they use daily. Therefore, it is crucial for Soneium to establish a product that people will positively need and further expand in areas outside of Web3.

Soneium Testnet Launch Date Unclear, Sony to Reveal More Details Soon

The testnet is still being prepared, and there is no fixed date for the launch of the blockchain. More specifically, Sony Block Solutions Labs is expected to disclose further information regarding the tools that will be available and the conditions necessary to build upon the platform. For the testnet, Soneium will incorporate Astar Network’s zkEVM to improve the new blockchain’s first liquidity.

In the future, the platform which is to be named Soneium is expected to introduce features such as safeguarding the rights of the artists and evolving new ways of distributing revenues from fair crowdfunding between artists and fans. These features aim to benefit content creators by ensuring their work is protected and they receive fair compensation.

Apart from the Soneium project, Sony also has plans to launch its local cryptocurrency trading platform in Japan which will result in its advancement and investment in the blockchain and cryptocurrency markets. This move shows the continued focus from Sony to apply blockchain technology to its business strategies and solutions.

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