Sony is making on-chain headlines by rebranding its blockchain team as the "On-Chain Business Strategy Division" and advancing IP asset tokenization across music, animation, games, films, and sports. Building on its Ethereum ecosystem initiatives through Soneium, its Ethereum Layer 2 network, Sony also plans to launch a GP/LP fund to support applications and entertainment projects built on Soneium. Its SPARK program has received over 2,000 DApp submissions, with 23 projects already funded.

According to ME News, on April 17 (UTC+8), Kazuhito Hashino, Head of On-chain Business at Soneium, Sony’s Ethereum Layer 2 network, stated that Sony’s blockchain business is transitioning from an experimental phase to commercialization. The former “Advanced Infrastructure Business Exploration Department” has been renamed the “On-chain Business Strategy Department,” repositioning blockchain as a core component of the company’s strategy. This year, Sony will focus on on-chain monetization of intellectual property (IP), leveraging Soneium to build on-chain IP infrastructure for core assets in music, animation, gaming, film, and sports, while simultaneously developing the necessary legal and regulatory frameworks.Additionally, Sony is preparing to establish a GP/LP-style investment fund to accelerate investment in applications and entertainment projects on Soneium through external capital. To date, its incubation program SPARK has received over 2,000 DApp applications, with 23 projects already receiving funding. Sony’s ecosystem also includes the cryptocurrency exchange S.BLOX, designed to connect fiat currency with digital assets. (Source: Foresight News)