Soneium blockchain by Sony will be potentially able to interact with Web3 games, NFT marketplaces, and entertainment-related services in compatible apps.
Sony Block Solutions Labs, a part of Sony Group, has developed a blockchain called “Soneium” and plans to open it to the public, adding new value to the various businesses and IPs developed by the Sony Group.
Soneium functions as a Layer 2 solution for Ethereum and leverages OP Stack developed by Optimism Foundation. Its main characteristics are described as “scalable, EVM-compatible, and developer-friendly.”
The electronic equipment and entertainment giant aims to make Soneium compatible not only with the existing Web3 apps and services but also with fresh platforms developed by other structural parts of the Group.
In particular, the company mentions a crypto asset trading service operated by Sony Group’s S.BLOX. This cryptocurrency exchange subsidiary is a revamped version of the local trading platform WhaleFin, which Sony acquired last year.
As a conglomerate whose main activities are not linked to the world of blockchain and crypto, Sony aims “to create use cases that can spark the interest of people who have never used Web3 services” for its public blockchain. One of the easiest sectors to implement blockchain might be gaming which is Sony’s most prominent income source.
According to experts, gaming might be the domain where blockchain delivers significant value. The combination of the two sectors draws growing public attention. Thus, blockchain gaming investments reached $988 million in April, the highest amount since January 2021.
As for the other possible applications for the Soneium network, the company remains vague so far. Sony states that its network “can support the expansion of creators’ potential and strengthen engagement with fan communities.” However, the company doesn’t specify in which realms it wishes to help creators protect their content rights.
Presumably, it might mean the development of some non-fungible token (NFT) infrastructure. Earlier media reports indicated that Sony set up a Singapore regional office to conduct contracted development and consulting business related to NFT products. The company also filed a patent last year for more flexible use of NFTs as in-game assets, which it dubbed “super-fungible tokens.”
At this point, Sony plans to release a Soneium “testnet” for app developers inside and outside the Sony Group to co-create applications using Soneium’s technology. Mainnet launch is not in its nearest plans, though it remains the final objective.
