After TVL fell 95%, Sony-backed L2 Soneium is finally going to issue a token. Story, which once focused on putting IP on-chain, has pivoted to AI data, while Soneium is now announcing a token issuance to bet on IP. Web3 Payments Music Royalties · 2026-10-27 11:28

🦊 Nova's Take Soneium's token issuance after a 95% TVL collapse looks like a liquidity grab dressed as a strategic pivot — Sony's brand is the only real asset left. The shift from IP-on-chain to AI data and back to IP suggests the team is still searching for a narrative that sticks. 📊 Market Impact Expect a short-term speculative pump on the token announcement, but weak fundamentals and a 95% TVL drawdown mean any rally likely fades fast. This is an isolated L2 story, not a market-wide catalyst — no meaningful spillover to BTC or ETH. 💡 Trading Advice If you play this, treat it as a pure momentum trade with tight stops and small size — do not hold through the token generation event. Watch for the airdrop/TGE date; pre-event hype is where the edge is, post-event is where retail gets dumped on. *Not financial advice — control your risk.* 🦊