Why did Sony choose not to go directly with Bitcoin when entering Web3?
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Why did Sony choose not to go directly with Bitcoin when entering Web3?
A look at Sony's Web3 ambitions.
Navigating Web3 tides with focused insightsAuthor: Mumo
For a long time, many traditional institutional giants attempting to enter the crypto and Web3 space have cautiously started by purchasing some Bitcoin spot ETFs, then publicly declaring that they've entered the crypto and Web3 world. Sony, however, broke from this convention—not choosing Bitcoin directly—but instead taking a unique path by establishing its own subsidiary to quietly build Web3 infrastructure and trading platforms.
While allocating to ETFs or directly holding BTC is easy to understand—given their speculative nature—Sony has chosen to actively participate in building Web3, setting a precedent. Perhaps the electronics giant Sony has already carefully planned for the future of Web3 and clearly defined what it wants...
Sony's Blockchain: Soneium
Recently, Soneium, an Ethereum Layer 2 blockchain developed by Sony Block Solutions Labs under the Sony Group, announced the launch of its Minato testnet and introduced the developer incubation program Soneium Spark. Like Base, Soneium is built using the OP Stack from the Optimism blockchain ecosystem. Sony positions it as a general-purpose blockchain platform designed to evoke emotional resonance, empower creativity, meet diverse needs, and drive mainstream adoption.
Sony Block Solutions Labs was founded by the Sony Group and Startale Labs. Startale Labs, a Singapore-based Web3 company, has secured seed funding from Sony Network, Samsung Next Ventures, and UVM Signum Blockchain Fund. In short, unlike many traditional institutions that merely buy ETFs or take equity stakes to enter Web3, the Soneium project (originally named Sony Chain) is Sony Group’s direct, hands-on entry into Web3—their "own child."
On September 1, the CEO of Startale Labs revealed on X that Soneium is working to build a universal creation platform enabling everyone to become creators, regardless of location or profession. Currently, Soneium is developing multiple creative IP use cases, aiming to leverage community power to bring the project into the mainstream market. The platform will provide individuals and communities with opportunities for collaborative creation, centered around emotional resonance to inspire user creativity.
In an official blog post, Soneium quoted Jun Watanabe, Chairman of Sony Block Solutions Labs: "We believe developing integrated Web3 solutions based on blockchain technology is critically important for the Sony Group, which has developed various businesses as part of its mission 'to fill the world with emotion through the power of creativity and technology.' We will strive to create diverse businesses and new use cases aimed at delivering customer value accessible only through Web3 technology to as many users as possible, enriching people's lives."
Director Sota Watanabe added: "We believe Sony Group's collaboration with Startale to launch an Ethereum Layer 2 marks a pivotal moment for the entire industry. The Web3 sector has long been creating products for itself due to the lack of touchpoints with general users and their feedback. Sony Group possesses strong distribution channels across multiple industries and has existing users embedded in everyday life. With Soneium, we will build things people actually want and achieve mainstream status beyond Web3."
Judging from information disclosed by Soneium, Sony has identified a key bottleneck in today's Web3 industry: much of the current infrastructure and applications cater only to 'insiders'—a major constraint facing the Web3 and crypto markets. Sony aims to develop real-world applications addressing practical problems via Web3 infrastructure and tools, not just "trading tokens." By leveraging its own business strengths and resources, Sony intends to bring the benefits of Web3 to the broader Web2 mainstream internet audience.
Reportedly, most features of the Soneium blockchain are similar to other Ethereum Layer 2s: EVM-compatible, high-speed, and allowing users to transact without paying gas fees. This enables seamless integration into the broader Ethereum ecosystem while empowering developers to build APIs and tools for intuitive, user-friendly applications familiar to mainstream users—lowering the barrier to blockchain technology and creating an ecosystem that brings Web3 to everyday users.
Typically, Web3 infrastructure is launched by crypto-native startup teams who better understand crypto users, but Sony's entry creates a new paradigm. Currently, the Sony Group—with a market cap exceeding $100 billion—operates across electronics, gaming and entertainment services, film, music, and financial services, with global reach in products, services, and brand recognition. Notably, Sony leads the gaming industry; according to Sony’s latest financial report, PS5 cumulative sales surpassed 61.7 million units by June 2024, and the monthly active users of the PlayStation platform grew from 108 million last year to 116 million.
Gaming is one of the most promising sectors for Web3 adoption. With its vast base of users, creators, and developers, Sony’s gaming platform gives Soneium a clear advantage over crypto-native startups starting from scratch. Given Sony’s scale and brand influence, it has the capability to deliver genuinely useful Web3 use cases for its users—an unequivocal positive for the Web3 industry.
Sony Trading Platform: S.BLOX Corporation and Super Tokens
In March 2024, S.BLOX Corporation, a subsidiary of the Sony Group, officially announced plans to launch a new cryptocurrency trading service. This initiative marks Sony’s further expansion into the Web3 domain, aiming to deliver greater value to users through blockchain technology and crypto services.
S.BLOX Corporation is the new name for Amber Japan, acquired by Sony in 2023. Amber Japan was originally a subsidiary of Japanese CEX DeCurret and was acquired by Singapore-based Amber Group in 2022. In August last year, Quetta Web Ltd., a wholly-owned Sony subsidiary, took over the platform and rebranded it as S.BLOX. This transformation involves more than just a name change—it includes a complete overhaul of the user interface and the launch of a more user-friendly mobile application.
Sony aims to apply its experience and technological expertise in the Web3 space to cryptocurrency trading through S.BLOX. The launch of S.BLOX will be tightly integrated with Sony’s other business units, signaling the company’s ambitions in the digital asset sector.
Notably, Sony has also been actively expanding its presence in blockchain and cryptocurrency over the past year. Recently, Sony filed a patent for "super-fungible tokens"—a type of token that would allow players to use and exchange in-game assets across different games, potentially having a profound impact on the gaming industry.
In gaming communities, gifting in-game items has become a popular trend, with titles like Fortnite and Minecraft offering such features. Sony’s proposed "super tokens" aim to facilitate exchanges in a similar manner. This patent for "super tokens" is designed to accommodate multiple non-fungible tokens associated with various types of in-game assets.
This patent demonstrates Sony’s innovative thinking regarding the interaction between game assets and digital currencies. By harnessing Web3 technologies, Sony not only opens up new growth opportunities for its gaming business but also provides expanded options for users and creators on its gaming platforms.
Conclusion
The tech industry evolves rapidly. As a renowned brand that has endured for decades, Sony’s remarkable resilience stems from its precise understanding of product demand, continuous innovation, and timely adjustments to its business—enabling it to avoid the fates of companies like Nokia or Kodak. This time, it appears Sony has once again spotted the potential of Web3…
A Layer 2 network and a trading platform—both essential Web3 infrastructures and among the largest market segments. Sony’s Web3 strategy is advancing step by step. Its strategic positioning clearly reflects deep research and understanding of the Web3 and crypto landscape.
The traditional electronics giant Sony has created numerous globally popular products in the past. Perhaps in the future, drawing on its unique insights into the entertainment industry—including gaming and audiovisual content—it can bring rich, practical applications to Web3 while leveraging its powerful brand influence, extensive resources, and broad partnerships to build a competitive infrastructure and ecosystem platform.
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