Pyth Network First to Integrate High-Fidelity Price Feed Infrastructure into Sony Group’s Soneium Blockchain
Pyth is the first blockchain oracle to deploy price feeds on Soneium, a gaming, DeFi, and experiences oriented blockchain from Sony Group, empowering developers with next gen financial infrastructure
TOKYO, Aug. 28, 2024 /PRNewswire/ — Pyth Network (“Pyth”), the public decentralized data infrastructure that empowers the next generation of financial applications, and Sony Block Solution Labs Pte. Ltd, (“Sony Block Solution Labs”) a joint venture with Startale Labs Pte. Ltd., a Sony Group company established for the purpose of building new network infrastructure using blockchain technology, today announced the deployment of Pyth Price Feeds on the recently announced Soneium blockchain. Pyth is the first oracle provider to deploy price feeds to the chain, so all projects building on Soneium at launch will use Pyth Network for market data.
“Sony Group and Startale are bringing business on-chain through Soneium, and it’s powered by Pyth,” said Michael Cahill, CEO and Co-Founder of Douro Labs, core contributors to the Pyth Network , “We look forward to enabling developers to create transformative experiences within the Soneium Spark incubation program by offering enterprise-grade infrastructure solutions. Our shared mission with Sony Group will foster a new era of decentralized innovation, particularly in gaming and DeFi.”
Pyth Price Feeds provide Soneium developers with real-time, high-fidelity price data across multiple asset classes. This reliable data will be essential for building a variety of applications on Soneium’s high performance blockchain including DeFi protocols, Web3 games, and NFT marketplaces, as well as entertainment-related services. In addition to providing developers with the most accurate and efficient market data feeds, Pyth will also be work with Sony Block Solutions Labs on the Soneium Spark incubation program, designed to support early-stage projects across a variety of sectors, including DeFi, Web3 Experience, and an Open Category for all creators.
“Soneium Spark is at the forefront of bridging Web3 and Web2, startups and enterprises, and innovative builders and the mass market,” said Sota Watanabe, Director of Sony Block Solutions Labs, “By welcoming Pyth as an infrastructure partner, we’re not just expanding the possibilities for builders but also reinforcing our mission to go mainstream with blockchain technology. With the combined strengths of Sony Group’s resources and Startale’s expertise, we’re eager to break new ground with Pyth Network.”
This collaboration further demonstrates Pyth Network’s role as the public infrastructure that will allow Soneium developers to create dApps that deliver experiences on the same level as apps through this integration into their high-performance blockchain designed to create an open internet. Sony Group will accelerate the adoption of blockchain technology, and it will be powered by Pyth Network. Learn more about how developers can use Pyth prices feeds on Soneium and the Soneium Spark initiative by visiting: https://pyth.network/blog/sony-group-soneium-and-pyth-network
About Sony Block Solutions Labs
Sony Block Solutions Labs is a joint venture with Startale Labs Pte. Ltd., a Sony Group company established for the purpose of building new network infrastructure using blockchain technology. We announced blockchain planning and development in September 2023, and changed our company name from Sony Network Communications Labs Pte. Ltd. in August 2024.
About Pyth Network
Pyth Network is the public decentralized data infrastructure that empowers the next generation of financial applications. Pyth provides DeFi builders with the supercharged infrastructure they need to create dApps that deliver experiences on the same level as apps. Equipping data providers, typically financial institutions, with a new way to monetize their quote and trade data while playing a key role in the nascent digital asset class. As the underlying market infrastructure, Pyth Network facilitates almost a trillion dollars in total transaction volume across over 70 blockchains and 400 applications that rely on its quote and trade data.
To learn more, please visit: https://www.pyth.network/
Media Contact: press@pyth.network
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SOURCE Pyth Network
