Japanese Technology Giant Sony Announced That It Will Collaborate With This Altcoin In Its New Project!

Japanese technology giant Sony is now launching its own blockchain.

Sony Block Solutions Labs, a joint project of Sony Group and Singapore-based Startale Labs, announced on Friday that it will launch a new layer-2 network called “Soneium” on top of the Ethereum blockchain, Coindek reported.

Sony will be using Optimism's OP Stack technology for their upcoming network project called “Soneium”.

Soneium aims to achieve mainstream adoption by aiming to stand out with its scalability and user-friendliness features.

Scheduled to launch in the coming weeks, the network will initially operate on a testnet in collaboration with Astar Network, a blockchain platform known for its multi-chain capabilities.

“In two years, we will include Sony products such as Sony Bank, Sony Music, Sony Pictures. So we want to integrate Web3 and blockchain technology into Sony’s product. And in three years, we want to include not only Sony, but also all businesses and all general dapps on top of that. But this is a general timeline. We will try to include as many businesses as possible from the first year,” said Sota Watanabe, founder of Astar Network and Director of Sony Block Solutions Labs.

Following the news, Optimisim (OP) price gained over 3% and increased by 7% in the last 24 hours.

*This is not investment advice.