- Sony is officially jumping into the blockchain sphere, announcing the release of its testnet Soneium Minato.
- The move comes as part of broader plans to launch an Ethereum L2 scaling solution that brings everyday internet use to the blockchain.
- Sony has gathered a US $100k pot to distribute among early developers, partners and other participants.
Japanese multimedia giants Sony have long been at the forefront of technology. The company that invented the home videotape recorder and the TR-55 transistor radio is now beginning its foray into the blockchain sector.
Sony recently announced the development of its new blockchain network, Soneium, another entry into the competitive Ethereum Layer-2 market. Just a few days after, Sony is looking to incubate its new protocol, offering developers US $100k (AU $147k) to participate in its testnet.
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US $100k Available to Early Collaborators and Developers
Sony Block Solutions Labs launched the current testnet, Soneium Testnet, overnight. The goal of the early release is to allow Eth L2 developers to begin building their applications atop the protocol, testing its functionality, and providing feedback to Sony on its efficiency and ease of use.
To incentivise developers, Sony simultaneously launched its Soneium Spark program, which comprises a US $100k (AU $147k) bounty set aside for early adopters of the network. The fund will be distributed among developers and potential “partnerships and mentorship” relating to the Soneium blockchain testnet.
Soneium to Bridge the Gap Between Current Internet and Web3
Soneium has been dubbed (by Sony itself) as “the infrastructure network that forms the basis of Web3”. Sony’s goal is to create a network, utilising Optimism’s stack and Ethereum’s base blockchain, that will “connect Web3 with everyday internet services, making blockchain technology more accessible to users globally”.
The vision for Soneium is grand. Sony plans for the blockchain’s ecosystem to spread across Web3 applications, hosting DeFi platforms, NFT marketplaces, GameFi products, as well as entertainment and social media projects.
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Given Sony’s track record with technology, it’s a promising sign for the blockchain world that the multimedia giants are stepping foot into the industry. But just how successful they will be in a pre-established market remains to be seen.
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