Sony, the major Japanese conglomerate and consumer electronics giant, launched a new web3 division overseeing the development of an Ethereum Layer 2 network.
Japanese conglomerate Sony has announced the formation of a new Web3 division, Sony Block Solutions Labs (SBL), to spearhead its blockchain and Web3 initiatives.
As part of this effort, SBL is launching Soneium, a public Ethereum Layer 2 (L2) network, in collaboration with Startale Labs, the team behind Astar Network.
The network is built using Optimism's OP Stack and enables the execution of Ethereum Virtual Machine (EVM) smart contracts.
Soneium is preparing to launch its testnet and will be releasing technical documentation and software development kits (SDKs) in the coming weeks, according to the announcement.
The initiative aims to connect major Web3 projects and infrastructure providers, including Astar Network, Circle, Chainlink, Alchemy, and The Graph, to integrate their services with Soneium.
According to SBL, the goal is to bridge the gap between decentralized innovation and everyday consumer applications in entertainment, gaming, and finance.
Soneium will explore new profit-sharing models for creators and fans, protect creator-generated content, and enable interoperability across digital and real-world environments, the team added.
The team highlighted Sony Group's potential to introduce Web3 technologies to new audiences through its extensive distribution network and presence in mainstream consumer markets.
"Sony Group has strong distribution channels in multiple industries and existing users in our daily lives," said Sota Watanabe, director of SBL and founder of Astar Network. "Through Soneium, we will make something people want and go mainstream beyond Web3."
Soneium to integrate with Astar
Soneium will integrate closely with the Astar zkEVM network and utilize Astar's ASTR token as a "key asset" within the L2's ecosystem, according to SBL.
Following the announcement, the price of ASTR rose by over 6% within two hours, as indicated by The Defiant's crypto price feeds.
In September 2023, Sony initially disclosed its intention to create a blockchain in collaboration with Startale Labs. Additionally, the two organizations took part in a Web3 incubator program in February 2023.
Soneium will also integrate support for Circle's USDC stablecoin, Chainlink's cross-chain interoperability platform, Alchemy's infrastructure and development tools, and The Graph's on-chain data services.
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