NewsBytes
    Hindi Tamil Telugu
    More
    In the news
    Narendra Modi
    Amit Shah
    Box Office Collection
    Bharatiya Janata Party (BJP)
    OTT releases
    Hindi Tamil Telugu
    NewsBytes
    User Placeholder

    Hi,

    Logout

    India
    Business
    World
    Politics
    Sports
    Technology
    Entertainment
    Auto
    Lifestyle
    Inspirational
    Career
    Bengaluru
    Delhi
    Mumbai

    Download Android App

    Follow us on
    • Facebook
    • Twitter
    • Linkedin
    Home / News / Technology News / Sony unveils its own blockchain network 'Soneium'
    Summarize
    Next Article
    Sony unveils its own blockchain network 'Soneium'
    'Soneium' is a layer-2 blockchain network

    Sony unveils its own blockchain network 'Soneium'

    By Akash Pandey
    Aug 23, 2024
    06:02 pm

    What's the story

    Sony has announced the creation of its own blockchain network, Soneium.

    The layer-2 network is being made atop Ethereum and in a collaborative effort with Startale Labs, the team responsible for the Astar Network.

    To manage the development and implementation of Soneium, Sony has formed a new entity known as Sony Block Solutions Labs (Sony BSL).

    This unit represents a joint venture between Sony and Startale.

    Network objectives

    Aim to bridge Web3 technologies with existing services

    The primary goal of Soneium is to integrate blockchain and Web3 technologies with existing Web3 internet services.

    According to a blog post on the official Soneium website, the network is being designed based on the principles of 'open internet.'

    This approach aims to foster a decentralized environment for various sectors including entertainment, gaming, and finance among others.

    Leadership

    Sony BSL leadership and future plans for Soneium

    Jun Watanabe has been appointed as the chairman of Sony BSL, with Sota Watanabe serving as the Director of Sony's Web3-focused division.

    "We think the development of a comprehensive Web3 solution based on blockchain is very significant to the Sony Group," said Sota Watanabe.

    He further stated that they will strive to develop diverse businesses and new use cases exclusive to Web3.

    Expansion plans

    Strategy to expand blockchain technology

    Sony plans to utilize its distribution channels across multiple industries and existing user base, to introduce more people to blockchain technology.

    The Soneium blog post revealed that Sony will not only support existing blockchain applications but also explore new services related to Sony Group businesses.

    These initiatives aim to attract individuals unfamiliar with Web3 services and enhance creativity and fan community engagement through Web3 technology.

    Future prospects

    Long-term goals and upcoming testnet launch

    In the long term, Sony aims to gain a deeper understanding of protecting creators' rights and exploring ways to return profits to support them through this blockchain initiative.

    The company plans to launch the Soneium testnet soon with Op Stack, an open-source modular framework that aids developers in testing emerging blockchain networks.

    "After we successfully launch the testnet, we plan to join Optimism's Superchain to expand our ecosystem," stated the blog post on Soneium's official website.

    Twitter Post

    Soneium wants to make blockchain technology more accessible

    Introducing #Soneium by #Sony Block Solutions Labs building a public Ethereum layer 2 next-generation blockchain ecosystem designed to invoke emotion and empower creativity.

    Soneium aims to connect Web3 with everyday internet services, making blockchain technology more… pic.twitter.com/I7zAIbB5Td

    — Soneium 💿 (@soneium) August 23, 2024

    Scenario

    Sony ventured into Web3 in 2023

    In 2023, Sony ventured into Web3 by partnering with Astar Network to establish a Web3 incubation hub.

    Last month, Sony proposed restarting operations at the Japanese crypto firm WhaleFin, which it had previously acquired.

    Recently, Sony Bank launched an NFT app called 'Connect,' enabling customers to manage, trade, and collect digital collectibles via their phones.

    Facebook
    Whatsapp
    Twitter
    Linkedin
    Related News
    Latest
    Sony
    Blockchain
    Ethereum

    Latest

    Netflix to stream iconic 'Pokémon' series from June 1 Hulu
    'Jurassic World Rebirth': All we know about horrifying mutant dinosaurs Mahershala Ali
    IPL 2025, LSG defeat GT: How the Impact Players fared Indian Premier League (IPL)
    William O'Rourke's 3-fer helps LSG to victory over GT: Stats Gujarat Titans

    Sony

    Sony reveals PlayStation Plus games for April 2024 Playstation Plus
    Sony PS5 Slim now available via Blinkit starting at ₹45,000 Sony Playstation 5
    Prominent Xbox executive Kareem Choudhry departs from Microsoft  Microsoft
    Sony PS5 summer sale: Get ₹13,000 off starting April 10 Sony Playstation 5

    Blockchain

    Litecoin can be your first cryptocurrency investment Cryptocurrency
    Bitcoin wallet provider Blockchain enters India via Unocoin tie-up India
    SBI to integrate "Blockchain" for Smart Contracts, KYC next month India
    This app lets users enter legal contracts for consensual sex Sexual Harassment

    Ethereum

    Cryptocurrency prices today: Check rates of Bitcoin, Ethereum, Solana, Dogecoin Bitcoin
    Today's cryptocurrency prices: Check rates of Bitcoin, Ethereum, Dogecoin, Solana Cryptocurrency
    Today's cryptocurrency prices: Check rates of Bitcoin, Ethereum, Dogecoin, Solana Cryptocurrency
    Cryptocurrency prices: Here are rates of Bitcoin, Tether, Ethereum, Dogecoin Cryptocurrency
    Indian Premier League (IPL) Celebrity Hollywood Bollywood UEFA Champions League Tennis Football Smartphones Cryptocurrency Upcoming Movies Premier League Cricket News Latest automobiles Latest Cars Upcoming Cars Latest Bikes Upcoming Tablets
    About Us Privacy Policy Terms & Conditions Contact Us Ethical Conduct Grievance Redressal News News Archive Topics Archive Download DevBytes Find Cricket Statistics
    Follow us on
    Facebook Twitter Linkedin
    All rights reserved © NewsBytes 2025