Sony has taken a step into the Web3 space by launching its blockchain platform, Soneium, and releasing its first music NFT collection. The project features unreleased tracks from Tokyo producer NUU$HI in partnership with Web3 label Coop Records.
The collection is hosted on the Sonova marketplace, which operates on the Soneium blockchain, and is priced at 0.000777 ETH (around $2.11). The sale will continue until the end of the month, though only 124 NFTs out of a potential 999,999 have been minted so far.
Soneium – Sony's Blockchain
Soneium is a Layer-2 blockchain based on Ethereum, developed by Sony's subsidiary, Block Solutions Labs. The platform is focused on digital content distribution, but it is still in the early stages of implementation.
The mainnet of Soneium was launched on January 14, 2025, after four months of testing. During this period, the platform registered 14 million user accounts and processed 47 million transactions. However, despite these metrics, Sony’s further plans for integrating blockchain into its media ecosystem remain unclear.
Coop Records and the Development of Web3 Music
Web3 label Coop Records, founded by crypto entrepreneur Cooper Turley, has already released over 600 songs on the blockchain. Its artists include Zeds Dead, San Holo, and Barry Can’t Swim.
The label actively promotes the concept of NFT music as an alternative to the traditional music industry. However, this format has yet to gain widespread adoption.
Turley admits that the existing monetization mechanisms for Web3 content are still in their infancy. He noted that, under current conditions, launching tokens for popular artists "almost inevitably ends in failure" due to the lack of established models for sustainable Web3 monetization.
NFT music has already seen some high-profile successes. For example, in 2021, Kings of Leon sold an NFT album for $2 million. However, since then, the market has struggled to maintain stable growth, facing general stagnation in the NFT industry.
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