philip lelyveld The world of entertainment technology

Sony Pictures and Music to Help Launch Incubator for Web3 Push

The company wants to "catalyze ecosystem growth and accelerate adoption by leveraging its vast global reach and technological expertise across entertainment, gaming, and consumer electronics."

Sony Group is looking for its Sony Pictures and Sony Music units and a new global incubator to help it with a push into the blockchain and Web3 space.

“Web3” is a term that describes a vision for a decentralized internet that is built on blockchaintechnology and communally controlled by its users.

Last week, Sony Block Solutions Labs, a joint venture between the Japanese conglomerate’s former Sony Network Communications Labs unit and Startale Labs, a Sony company established for the express purpose of “building new network infrastructure using blockchain technology, said that it has developed the Soneium blockchain as the infrastructure network on which the company wants “to accelerate Web3 innovation.” ...

On Wednesday morning Tokyo time, early L.A. evening time, Sony said it was launching the “Soneium Minato” public testnet and an “ambitious” developer incubation program dubbed “Soneium Spark” to “catalyze ecosystem growth and accelerate adoption by leveraging its vast global reach and technological expertise across [the] entertainment, gaming, and consumer electronics sectors.” ...

Importantly, Sony subsidiaries, such as its film and music units, will participate in the incubation program. “We have opened our testnet as a first step to foster a fan community centered on creators that can connect diverse values through Soneium,” said Jun Watanabe, chairman of Sony Block Solution Labs. “Let’s work together to create new value in Web3 toward a world where Web3 services are used in people’s daily life.”

Among Web3 apps that have attracted users include the likes of Flickplay, which allows users to unlock digital assets and create videos with them using augmented reality (AR). ...

See the full story here: https://www.hollywoodreporter.com/business/business-news/sony-pictures-music-web3-blockchain-sonieum-initiative-1235984907/