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Sony’s “Entertainment Network”, Soneum, Goes Live

  • Sony launched a layer 2 network on Ethereum to create an entertainment layer on top of a Web3 finance layer.
  • The network is open to all creators and will protect creator rights while ensuring equitable value distribution between creators and consumers.

Sony, the media and Entertainment giant, has launched a layer 2 network on Ethereum called Soneum through its subsidiary, Sony Block Solutions Labs. The network is intended to use Web3 tech to power a digital creator economy.

The network, built using the OP stack (a blockchain development kit from the Optimism Foundation), will use chain abstraction technologies and methods to onboard regular users to Web3 without requiring them to understand the underlying tech.

Another important touchpoint for the Head of Sony BSL, Sota Watanabe, is the protection of IP rights. Soneum is built with mechanisms in place to protect these rights.

According to an X post by Watanabe, “We are making a home for all creators inside and outside of web3. Memecoins are an important culture, which I like as well, but IP infringement is not. Let’s create meme culture not infringing IP rights!”

Unlike other major consumer brands whose engagement with Web3 is largely limited to NFTs, Sony is going beyond to provide an infrastructure for the next evolution of the creator economy.

Soneum also launched Spark, an incubator program that has selected 32 projects from a list of 1,700 that will debut on the new network.

While Soneum recently launched its mainnet, it logged over 14 million users during its testnet phase which lasted four months from August 2024 and logged over 50 million transactions.

The post Sony’s “Entertainment Network”, Soneum, Goes Live appeared first on CoinJournal.

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Dogecoin eyes the $0.40 resistance level as market rebounds

Key takeaways

  • DOGE is up 5% in the last 24 hours and could surge to the $0.40 resistance level soon.
  • iDEGEN’s presale approaches $16.5m.

DOGE hits $0.36

DOGE, the native coin of the Dogecoin ecosystem, is one of the best performers among the top 10 cryptocurrencies in the last 24 hours. The coin is up 5% as the broader market rebounds.

At press time, the price of Dogecoin stands at $0.3614 and could rally higher in the near term. Following the liquidity clearance of around $0.308 earlier this week, DOGE had renounced excellently and could target external liquidity above $0.40 soon. If the market conditions persist, DOGE could test the resistance level at $0.40070 in the coming days. 

What is iDEGEN?

The crypto market has recovered excellently following Monday’s dip. With Bitcoin and other major altcoins rallying, the total crypto market has recently increased.

Funding into new projects hasn’t halted as iDEGEN and other promising projects continue to attract investors. 

iDEGEN is an exciting project that merges the AI and memecoin ecosystems, ensuring investors take advantage of both. In their whitepaper, the team explained that iDEGEN is a meme project that leverages the benefits of AI to create the next billion-dollar memecoin. 

As an AI tool, iDEGEN learns, evolves, and adapts by leveraging community feeds on X. While iDEGEN is powered by AI, degens ultimately raise the tool. 

$IDGN will be a memecoin with exciting utility to the community. The team will launch its native token as a memecoin thanks to the massive adoption of this narrative in recent years. In 2024, the memecoin space grew from a $20 billion market cap to $120 billion, representing a 500% growth within 12 months. It is the second-best performing narrative in the crypto space, only behind AI. 

With iDEGEN combining the two strongest narratives (AI and meme) in the crypto ecosystem, it could become one of the best performers in 2025 once it launches on exchanges in February. 

The iDEGEN tool has a simple working mechanism. Users feed the tool their data through tweets, tags, and comments. It absorbs the post and adds it to its knowledge base; that’s how it learns. Furthermore, the tool posts on X every 60 minutes and can generate and post memes. 

Learn more about the iDEGEN project here.

iDEGEN’s presale to end in February, team raises over $16 million

The iDEGEN presale is approaching $16.5 million fast, with over 1.4 billion $IDGNE tokens sold. Currently, $IDGN is going for $0.01, with the price set to increase to $0.011 in the next stage. In the last presale stage, $IDGN will go for $0.038, giving early investors a massive ROI before the token launches on exchanges. 

According to the iDEGEN team, the presale will last 41 more days before the token launches on centralised and decentralised exchanges. $IDGN currently has over 19,000 holders with an accumulated 8,991% return on investments. 

Why invest in the iDEGEN presale today?

Investors are excited about the incoming Trump administration, which could result in another Bull cycle. Last year, memecoins and AI tokens outperformed other narratives, and this could repeat itself this year.

iDEGEN is one of the projects combining these narratives. The project is still in its presale, which means investors can purchase the tokens at possible discount prices before $IDGN lists on exchanges. 

$IDGN will list on February 27, once the presale is over, and could deliver excellent gains to early investors thanks to its AI and memecoin combination.

The post Dogecoin eyes the $0.40 resistance level as market rebounds appeared first on CoinJournal.