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How Sony Plans To Take Web3 Mainstream with Ethereum Layer 2 Foray

DailycoinDailycoin2024/08/24 05:45
By:Dailycoin
  • Sony has unveiled an Ethereum Layer 2 venture to take Web3 mainstream.
  • The project will leverage Sony’s deep distribution channels.
  • The proposed blockchain promises to be a home for creators.

As recognition of blockchain technology’s capabilities grows, more traditional corporations have begun to explore it. Sony, the Japanese multinational conglomerate, is at the forefront of this adoption.

From metaverse wearables to NFT patents to a recent crypto exchange acquisition , Sony has made it clear that it sees potential in incorporating blockchain and crypto into its long-term strategy. In the latest sign of commitment to the industry, the technology and entertainment giant has unveiled its vision to take Web3 mainstream. The latest project is the result of a September 2023 partnership with Startale Labs, a spinoff of the Polkadot -based Astar Network.

Sony Unveils Soneium

Sony is launching an Ethereum Layer 2 chain based on Optimism ‘s OP Stack called Soneium to bridge Web 2.0 and Web3. Sony Block Solutions Labs, the joint venture of Sony and Startale Labs, revealed this development in a press statement on Friday, August 23. 

Sponsored

To make Web3 mainstream with Soneium, Sony intends to create an ecosystem of user-friendly applications that “people want,” leveraging the tech giant’s deep distribution channels to market these products to those outside the Web3 space.

"The industry has been making something web3 people want because of the lack of general user touchpoints and their feedback. Sony Group has strong distribution channels in multiple industries and existing users in our daily lives. Through Soneium, we will make something people want and go mainstream beyond web3," Director of Sony Block Solutions Labs Sota Watanabe stressed in the press statement.

The firm noted that Soneium users could look forward to applications that “push the boundaries of blockchain technology” and a unique blend of entertainment, finance, gaming, and more. 

Sony Block Solutions Labs also noted that Sony will consider developing Soneium features and applications linked to various parts of its business to attract even more users.

A Home For Creators?

Sony’s dream for Soneium centers on supporting creators and encouraging creativity. Sony Block Solutions Labs intends to launch the Ethereum Layer 2 with a flurry of developer—and creator-centric tools to accomplish this goal. According to the firm, these include tools to help developers navigate the fast-changing regulatory landscape around crypto and enable the creation of globally compliant applications.

Sponsored

For creators specifically, Sony noted that it would create tools and mechanisms to support better fan engagement and revenue sharing.

To give creators and developers early access to experience Soneium’s capabilities, Sony Block Solutions Labs disclosed that the blockchain’s testnet is set to launch “in the coming days,” promising that “the fully featured testnet” will do well to mirror mainnet conditions.

To whip up excitement ahead of the testnet launch, Sony has already launched a social media hashtag campaign, #GMwithSoneium, a shorthand for “Go Mainstream with Soneium,” which plays on crypto’s GM culture.

Soneium already boasts partnerships with Astar Network, Alchemy, Chainlink , Circle , Optimism, and The Graph.

On the Flipside

  • The mainnet launch timeline for Soneium remains unclear.
  • Sony’s involvement in Soneium’s development does not guarantee that the blockchain will be a success, as sometimes efforts by traditional firms to delve into crypto flop.

Why This Matters

Sony is one of the world’s largest corporations with a customer base that has reached the billions and a business that transcends tech and all forms of entertainment. As such, Soneium can potentially ramp up the pace of crypto adoption significantly.

Read this for more on Sony’s crypto forays:
Sony to Unleash Killer Web3 Uses in New Blockchain Venture

Polygon has finally found someone to take over the network’s DeFi reins. Learn about Daniel Oon:
Polygon (MATIC) Gets New DeFi Head: What You Need to Know About Daniel Oon

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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