Sony Block Solution Labs has revealed the development of ‘Soneium’ and intends to create new Web3 services leveraging its existing businesses and IP of the Sony Group.
The crypto asset trading service operated by Sony Group’s S.BLOX is among the services the company wants to introduce in a mission to bring the industry to people who have never had the opportunity to experience Web3.
Electronics Giant, #Sony, to Launch Crypto Exchange Dubbed S.BLOX as it Intensifies Web3 Presence
In February 2024, Sony Innovation Fund: Africa, the venture capital branch of Sony Group Corporation, made a strategic investment in Carry1st, the leading Web3 game publisher and… pic.twitter.com/YxWl91Kx9q
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Soneium is a public blockchain with an open network that anyone can participate in, Sony said. The company intends to provide comprehensive Web3 solutions from the infrastructure to the application layer, rather than just providing partial services.
“In addition to the existing Web3 services that will be compatible with Soneium’s future, we will investigate how new services that collaborate with businesses within the Sony Group can be developed as Soneium-compatible apps.
We will work to create use cases that can spark the interest of people who have never used Web3 services,” the organization said in a news release.
Sony added that Soneium’s Web3 technology can support the expansion of creators’ potential and strengthen engagement with fan communities.
“Specifically, we will explore protecting the rights of content created by creators, new mechanisms for returning profits to support creators and fans, and opportunities for creators to be active across the digital and real worlds.”
End users will be able to access Soneium through applications that are compatible with Soneium’s network, and will be able to interact with Web3 games and NFT marketplaces provided by each app, as well as entertainment-related services.
By utilizing blockchain technology, activity history within apps is managed in a more decentralized and autonomous manner than on the traditional Internet. Each app can be used by accessing it from your digital wallet.
The company has also released Minato, a Soneium testnet for app developers . The purpose of this testnet is to co-create applications using Soneium’s technology with developers inside and outside the Sony Group.
“In the future, we will continue to work towards making Soneium “mainnet” publicly available, alongside the apps developed on the testnet. Mainnet will allow users to freely access various applications and use Web3 services.”
Soneium functions as a Layer 2 solution for Ethereum, building a network on top of the existing Ethereum Layer 1 and handling data processing, solving issues such as slow data processing speed and increased fees that occur in Layer 1.
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