Sony Unveils Blockchain Testnet and Incubator, Boosting Web3 Expansion
On August 28, Sony Block Solutions Labs (Sony BSL) introduced the Soneium Minato public testnet and the Soneium Spark incubator.
This move marks Sony’s most significant entry into the Web3 space, following the launch of the Soneium blockchain by Startale Labs, a subsidiary based in Singapore, a week earlier.
Soneium Spark will provide developers with up to $100,000 in investment and other funding opportunities through its partners. Participants will also receive support from Sony Group, Astar Network, and Startale, according to Sota Watanabe, director of Sony Block Solutions Labs.
Astar Network is a key partner and will assist Soneium Spark participants, along with support from USD Coin issuer Circle, Ethereum layer-2 developer Optimism, development platform Alchemy, indexing system The Graph, and oracle network Chainlink. Soneium leverages Optimism’s OP Stack codebase.
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Sony’s various divisions, including its music, film, education sectors, innovation fund, and Inzone gaming headset division, will also engage with Soneium Spark. Sony Block Solutions Labs chairman Jun Watanabe highlighted the goal of creating a community of creators and collaborators through the new platform.
Sony’s partnership with Startale began in June 2023, with Sony Network Communications investing $3.5 million, leading to the rebranding of the subsidiary as Sony BSL.
In addition to leading Sony Block Solutions Labs, Sota Watanabe is CEO of Startale and founded Astar, a parachain within the Polkadot ecosystem.
Sony has previously invested in Epic Games’ metaverse efforts and, in 2022, backed NFT marketplace MakersPlace and patented an NFT app for music and artists under Columbia Records. In April, Sony Bank also announced trials of its stablecoin for business transactions.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
