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⌐◪-◪ → Sony’s long-awaited layer-2 blockchain “Soneium” is set to launch in the coming weeks. This general-purpose blockchain is designed to meet a wide range of needs across Sony’s diverse verticals.

Soneium is being developed by Sony’s web3 arm, Sony Block Solution Labs, in partnership with Startale Labs, using the Optimism OP Stack.

The project has secured partnerships with Astar Network, Alchemy, Chainlink, Circle, Optimism, and The Graph for its launch.

I’m curious to see how Sony leverages its expertise in entertainment, gaming, and finance to make Soneium a success. This is a huge opportunity to showcase blockchain technology, but it also has the potential to fall flat.

This move could inspire other major companies to explore building on Ethereum L2s as scalability issues get resolved.

💬 Does this mean we’ll see PlayStation NFTs soon?

⌐◪-◪ → Magic Eden just announced their new token $ME, which will “power” their cross-chain NFT marketplace and broader ecosystem.

For context, Magic Eden dominates the NFT marketplace scene, accounting for 35% of all trading volume over the past six months.

Initial reactions seem to be positive, crypto Twitter is excited Magic Eden is doing what OpenSea failed to do for years — launch a token.

While I’m generally skeptical of token drops, as they’re often pump-and-dumps that serve no real purpose, I’m eager to see how $ME plays out. They have a good team (say hi to Elizabeth) plus the space has learned a lot over the last few years.

Zooming out, if there’s one thing I’ve truly learned from the Great NFT Marketplace War it’s that being first doesn’t guarantee long-term success. First, we had OpenSea, then Blur took over, and now it’s Magic Eden’s time to rule.

💬 How long will Magic Eden’s reign last?

⌐◪-◪ → Russia has announced plans to launch two state-affiliated crypto exchanges and stablecoins linked to the Chinese Yuan and BRICS currency. This is significant for two main reasons:

1. It reduces reliance on the US Dollar for international trade

2. It means Russia may be adopting a “pro-crypto” stance

Now seems like a good time to resurface Vitalik’s blog post which warns against authoritarian parading as “pro-crypto” while also suppressing/controlling its use. He explains Russia’s current policy which of:

• Promoting crypto as a means to circumvent sanctions and restrictions

• Going after citizens for using crypto when it prevents surveillance/control

While I’m not an expert on international policy, Vitalik was born is Russia and is one of crypto’s brightest minds — so I trust his interpretation here.

On a more positive note, this development helps the game theory around nation-state adoption play out, some good ol’ fashion healthy competition haha.

💬 What are your thoughts on Russia's crypto strategy?

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