Sony Unveils Public Testnet for Ethereum Layer-2 Blockchain Soneium

Crypto Reporter

Shalini Nagarajan

Crypto Reporter

Shalini Nagarajan

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Shalini is a crypto reporter who provides in-depth reports on daily developments and regulatory shifts in the cryptocurrency sector.

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Last updated: 

August 28, 2024

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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.

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.