Sony has announced plans to launch a new blockchain platform, Soneium, with the aim of integrating the company’s various businesses and intellectual properties, potentially including its music catalog.
Developed by Sony’s Singapore-based joint venture with Departure tale Laboratories, Sony Blocking Solutions LabsSoneium is described as the “infrastructure network that forms the basis of Web3” .
Established in October 2023, Sony owns 90% of the joint venture, while Startale Labs holds the remaining 10%.
Soneium will serve as a public blockchain with an open network, allowing anyone to participate, Sony Block Solution Labs said in a press release Friday (Aug. 23).
The company aims to transform Soneium more than just a blockchain platform, but also a complete Web3 solution, offering services ranging from infrastructure level to application development.
The creators of Soneium said in the press release that they would “leverage Sony Group’s extensive global distribution network across entertainment, finance, electronics and gaming“which would provide “an unprecedented opportunity to introduce blockchain technology to users around the world.”
They added: “We will work to help creators develop their creativity and strengthen their engagement with the fan community.
“More specifically, we will study the protection of rights to creations created by creatorsnew profit return mechanisms to support creators and fans, and opportunities for creators to be active in the digital and real worlds.”
The mention of leveraging Sony’s own entertainment network (which includes Sony Music Group), as well as the suggestion that Soneium could help with “rights protection,” hint at the potential involvement of music in the future of technology.
Sony Blocking Solutions Labs Sony developed the technology to address the limitations of the current Web3 ecosystem. While Web3 has the potential to decentralize power and create new opportunities, it struggles to achieve widespread adoption due to a lack of usage and a complex user experience, Sony said.
“By developing blockchain, which is the core infrastructure of Web3, we will be able to provide complete Web3 solutions from infrastructure to the application layer, rather than just providing partial services,” said the Web3 CEO. Sony said the joint venture.
The company also plans to explore how Soneium can be used to protect the rights of content creators, providing them with new ways to profit from their work while improving fan engagement.
In addition to its own initiatives, Sony is inviting developers and creators to build apps on the Soneium platform. The company will provide tools and resources to help developers create innovative and engaging experiences.
“Soneium’s Web3 technology can support the expansion of creators’ potential and strengthen engagement with fan communities.”
Sony Blocking Solutions Labs
“I believe that developing a comprehensive blockchain-based Web3 solution is very important for the Sony Group, which has developed a wide variety of businesses as part of its goal of ‘filling the world with emotion, through the power of creativity and technology’.” Jun WatanabePresident of Sony Block Solutions Labs, who is also responsible for the Advanced Infrastructure Business Research Department, Business Development Platform, Sony Group.
“We will work to create diversified businesses and new use cases with the aim of delivering customer value that only Web3 technology can benefit to as many users as possible and making people’s lives richer and more colorful.”
Watanabe SotaSony Block Solutions Labs Director added: “The Web3 industry is in the midst of a transformation. We believe the defining moment for the entire Web3 industry will be whether we, as Web3 companies, can truly deliver solutions that billions of people use every day and make Web3 a mainstream communication tool in the coming years.”
“We believe Soneium has great potential to lead the world and realize this vision, and we would like to collaborate with a variety of developers and companies, transcending the boundaries of countries, regions and industries.”
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