Samsung Next, the venture capital and startup acceleration arm of the Samsung Group, has extended its partnership with Singapore-based Startale Labs.
The extended partnership, which builds upon February funding, will see Samsung participating in a new program under Startale Labs and Sony’s new blockchain, Soneium.
Samsung Extends Partnership
Japanese electronics and gaming giant Sony announced on Friday, Aug. 23, that it was launching its own blockchain to accelerate Web3 innovation.
Sony Block Solutions Labs (Sony SBL), a joint venture between Sony Group and Singapore-based Startale Labs, said that Soneium will be built with a new layer-2 network on top of the Ethereum blockchain.
Samsung’s Investment In Startale Labs
In February, Startale Labs announced it had raised a $3.5 million extension round from Samsung Next and UOB Venture Management.
The funding added to its existing seed round, bringing the total to $7 million, with a previous $3.5 million investment from Sony in September 2023.
Yim said Samsung invested in Startale Labs because the company is at the forefront of “solving key challenges in the Web3 ecosystem by providing essential tools and infrastructure,” noting Soneium and Startale Cloud Services.
“Their solutions effectively reduce barriers like high entry costs, lack of interoperability, and technical complexity, making Web3 technologies more accessible and scalable for developers and businesses alike,” Yim added.
Yim said that Startale Labs plays a pivotal role in Web3’s growth and is helping to build the foundation for “a decentralized future that promises greater autonomy and innovation across industries.”
What Is Soneium?
Sony SBL stated that its new blockchain aims to simplify Web3 experiences with boosted accessibility and efficiency. Soneium plans to deliver apps covering gaming, finance, entertainment, and more.
Sony SBL said that it was focusing on exposing new audiences to Web3 technologies through its massive distribution network to mainstream markets.
“The new blockchain unites leading web3 projects and infrastructure pioneers, including Astar Network, Circle, Chainlink, Alchemy, and The Graph […] to bridge the gap between decentralized innovation and everyday consumer applications in entertainment, gaming, and finance,” Sony SBL said.
In its mission statement for Soneium, Sony SBL said the Web3 community is currently limited to a small group of core users, and no killer use case has made it into the mainstream yet.
Soneium aims to tackle these challenges by creating “new use cases with the aim of reaching as many users as possible with the customer value that can be enjoyed only with Web3 technology,” said Jun Watanabe, chairman of Sony Block Solutions Labs.
Soneium will take advantage of the Optimism blockchain ecosystem’s OP Stack. This highly customizable and flexible toolkit allows developers to mold their own networks using Optimism’s technology.
These networks can connect to other networks in the same ecosystem through the “Superchain.”
Sony SBL stated that its new blockchain aims to simplify Web3 experiences with boosted accessibility and efficiency. Soneium plans to deliver gaming, finance, entertainment, and more apps.
