Sony Unveils Web3 Division and Layer 2 Network

Sony, the major Japanese conglomerate and consumer electronics giant, launched a new web3 division overseeing the development of an Ethereum Layer 2 network.

Announced on Aug. 23, the newly created Sony Block Solutions Labs (Sony SBL) will lead all of Sony’s blockchain and web3 initiatives. Sony also revealed that the division is developing Soneium, a public Ethereum Layer 2 network, in partnership with Startale Labs, the development team behind Astar Network.

The network leveragesOptimism’s OP Stack and supports Ethereum Virtual Machine (EVM) smart contracts. Soneium is currently preparing to launch its forthcoming testnet, and plans to release technical documentation and software development kits “in the coming weeks.”

“The new blockchain unites leading web3 projects and infrastructure pioneers, including Astar Network, Circle, Chainlink, Alchemy, and The Graph… to bridge the gap between decentralized innovation and everyday consumer applications in entertainment, gaming, and finance,” Sony SBL said.

Sony SBL said it is exploring new mechanisms for profit-sharing between creators and fans, protecting creator-generated content, and fostering interoperability across digital and real-world environments.

The team emphasized that Sony Group has the potential to expose new audiences to web3 technologies through its massive distribution network and penetration of mainstream consumer markets.

“Sony Group has strong distribution channels in multiple industries and existing users in our daily lives,” said Sota Watanabe, the director of Sony SBL and founder of Astar Network. “Through Soneium, we will make something people want and go mainstream beyond web3.”

Soneium to integrate with Astar

Sony SBL said Soneium will closely integrate with the Astar zkEVM network and utilize Astar’s ASTR token as a “key asset” within the L2’s ecosystem.

The price of ASTR is up more than 6% in less than two hours in response to the news, according to The Defiant’s crypto price feeds.

Sony first teased plans to develop a blockchain in partnership with Startale Labs in September 2023. The two companies also teamed up on a web3 incubator program in February 2023.

Soneium will also integrate support forCircle’s USDC stablecoin,Chainlink’s cross-chain interoperability platform,Alchemy’s infrastructure and development tools, and The Graph’s on-chain data services.