Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesCopyBotsEarn
Sony Unveils Public Testnet for Ethereum Layer-2 Blockchain Soneium

Sony Unveils Public Testnet for Ethereum Layer-2 Blockchain Soneium

CryptoNewsCryptoNews2024/08/28 06:30
By:Shalini Nagarajan

Sony Block Solutions Labs is also launching an incubation program, offering up to $100,000 in funding for qualified developers and projects on the Soneium Minato platform.

Last updated:
August 28, 2024 00:01 EDT

Sony Group’s blockchain subsidiary on Wednesday launched the “Minato” testnet for its Ethereum Layer-2 blockchain, Soneium.

It follows the Japanese conglomerate’s announcement last week, in collaboration with Singapore-based Startale Labs, that they are working on a proprietary blockchain .

Soneium aims to leverage Sony’s expertise in entertainment and gaming to create practical applications in these areas.

Further, the platform looks to enhance gaming experiences through blockchain technology. For instance, it may use NFTs for in-game assets. Additionally, Soneium focuses on developing new financial models or services within the entertainment industry.

Soneium Minato Testnet and #Soneium Spark Incubation details are here! #Sony Block Solutions Labs launches this Ethereum layer-2 solution to empower builders and drive Web3 adoption. pic.twitter.com/UYRgzXJPxn

— Soneium 💿 (@soneium) August 28, 2024

The Layer-2 blockchain seeks to broaden Sony’s presence in the tech sector while also advancing blockchain technology towards solutions that are more user-friendly, scalable, and broadly applicable.

“We have opened our testnet as a first step to foster a fan community centered on creators that can connect diverse values through Soneium,” said Jun Watanabe, chairman at Sony Block Solution Labs.

“We look forward to working with partners who share our vision and are willing to participate in collaboration with Sony Group. Let’s work together to create new value in Web3 toward a world where Web3 services are used in people’s daily life.”

Sony’s Soneium Spark and Minato Testnet to Build Developer Ecosystem

Sony Block Solutions Labs is also initiating “Soneium Spark,” an incubation program designed to attract and integrate developers.

The Soneium Spark program works alongside the Soneium Minato testnet to build an ecosystem for developers. The testnet offers a reliable platform for developing and testing decentralized apps. Meanwhile, Soneium Spark supports project development by providing guidance, infrastructure, and strategic industry partnerships.

Astar Network, known for its multi-chain capabilities, will support the testnet phase. It will provide initial liquidity along with a range of fungible and non-fungible digital assets.

Sony’s Incubation Program Offers $100K in Funding

The incubation program offers technical workshops and personalized mentorship from industry leaders. It also provides funding options. Participants will have early access to Soneium’s advanced features. Additionally, Sony Group is involving its subsidiaries in the Soneium Spark Incubation program.

Qualified developers and projects can obtain up to $100,000 in funding to build on Soneium Minato. Additionally, they can explore further investment opportunities through the program’s partner network.

0

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.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like

MARA's stock jumps after raising $1 billion via convertible notes to buy more bitcoin

MARA Holdings announced the successful closing of its $1 billion offering of 0% convertible senior notes due 2030.The bitcoin miner plans to allocate around $199 million of the proceeds to repurchase $212 million in principal of its existing convertible notes due 2026. The remaining funds will be used to acquire more bitcoin.

The Block2024/11/21 16:11

Gold loses luster as institutional demand fuels bitcoin price surge, analysts say

Bitcoin’s 46% surge over the past month, contrasted with gold’s 3% decline, highlights a shifting investor preference toward alternative store-of-value assets, analysts say.Derivatives traders are buying up bitcoin call options ahead of Trump’s inauguration, signaling strong bullish sentiment for the beginning of 2024.

The Block2024/11/21 16:11

SEC is 'engaging' Solana ETF applicants: report

SEC “engaging” on Solana ETF applications, sparking optimism for potential approval in 2025.VanEck, 21Shares, and Bitwise lead Solana ETF filings amid pro-crypto White House hopes.SOL token rises 4.6% to $247.91, bolstered by Solana’s strong DeFi ecosystem and demand.

The Block2024/11/21 16:11