Sony’s Ethereum L2 Testnet Goes Live, Builders Enticed With Incubator

• Sony has taken its first step toward its lofty goal of taking crypto mainstream.
• The launched Ethereum Layer 2 testnet promises to play a pivotal role in shaping the Soneium project.
• Sony has teased an incubator program to entice budding development teams.

As legacy corporations explore the potential of Blockchain technology, Japanese multinational conglomerate Sony is increasingly positioning itself as a trailblazer. Over the years, the company has made it clear that it believes crypto could play a key role in its long-term strategy, launching metaverse wearables, securing NFT patents , and recently acquiring a crypto exchange .

Most recently, Sony has espoused the lofty goal of taking crypto mainstream with an Ethereum Layer 2 chain leveraging its distribution channels to push practical and easy-to-use crypto applications. Just days after the official announcement, the testnet for this would-be Web 2.0 to Web3 bridge is now live.

Sony Unveils Soneium Minato

Sony has taken its first step towards its lofty goal of taking crypto mainstream. On Wednesday, July 28, the group’s joint venture with Startale Labs Sony Block Solution Labs disclosed that the testnet for its planned Layer 2 Soneium was live. The testnet, called Soneium Minato, offers developers and creators a cost-effective and fast way to explore the ecosystem.

The firm explained that the testnet was important as it would let projects and creators build communities ahead of the mainnet launch. At the same time, the users who make up these communities will have the opportunity to shape the direction of the projects.

Commenting on the testnet launch, Sony Group Business Incubation Platform Senior General Manager Jun Watanabe expressed excitement at the opportunity to work with builders during the testnet phase to create solutions that people would use daily.

“We have opened our testnet as a first step to foster a fan community centered on creators that can connect diverse values through Soneium. We look forward to working with partners who relates to 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,” he enthused in a statement.

Meanwhile, along with the testnet launch, Sony has also teased an incubator program to support budding development teams.

How Sony Plans To Spark Development

Boasting partnerships with Sony corporations and native Web3 firms like Pyth and Alchemy Pay, the planned incubator program called Soneium Spark intends to help developers transform their ideas into marketable products. 

The program is seeking builders across every sphere of Web3, from DEX builders to gaming. Selected teams are promised marketing, business, technical, and financial support, with an additional chance of winning up to $100,000 in investments.

However, applications for the program have yet to be opened, with Sony promising to open them “in a few weeks.” The program itself is slated to kick off on October 10. Sony disclosed that the program would be online with some offline events. 

Commenting on the program, Sony Block Solutions Labs Director Watanabe tipped it to make Soneium “stronger.”

“Soneium becomes stronger by partnering with builders. Through Soneium Spark, we bridge Web3 and Web2, startups and enterprises, and innovative builders and the mass users. By leveraging Sony Group’s assets and Startale’s experience, we will go mainstream together with the community.”

On the Flipside 

• The timeline for Soneium’s mainnet launch remains unclear.
• It remains to be seen whether the Soneium Minato testnet would get high engagement.

Why This Matters

Sony is one of the world’s largest corporations, boasting billions of customers and a business that transcends tech and all forms of entertainment. As such, Soneium can potentially significantly ramp up the pace of crypto adoption. The Soneium Minato testnet represents the first major step on the path to this goal.

Read this for more on Sony’s Ethereum Layer 2 plans:
How Sony Plans To Take Web3 Mainstream with Ethereum Layer 2 Foray

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