Business Markets News Report Technology
July 10, 2023

Gaming Giant Sega Reconsiders Blockchain Involvement

In Brief

Despite Sega’s previous exploration of using NFTs in gaming and signing blockchain partnership deals, their COO has stated that play to earn crypto games are no fun to play and they are now waiting to see if blockchain-related games will really take off before committing.

Sega’s Chief Operating Officer, Shuji Utsumi, recently expressed doubts about the entertainment value of play-to-earn (P2E) crypto games, stating that they are “no fun” to play. This came as a surprise given Sega’s previous ventures into blockchain and Non-Fungible Tokens (NFTs), and the company’s partnerships with prominent crypto and gaming firms.

Gaming Giant Sega Reconsiders Blockchain Involvement

Sega has shown enthusiasm for NFTs and blockchain technology, notably through their upcoming partnership with doublejump.tokyo, a leading blockchain gaming company in Japan. However, Utsumi’s comments raise questions about whether Sega sees blockchain as a sustainable avenue for the gaming industry.

Sega’s stance on P2E games has raised eyebrows in the gaming community. Gamespot reported that the company is unwilling to experiment with blockchain using its most renowned franchises as guinea pigs. As such, characters from beloved games like Sonic and Yakuza won’t be appearing in NFT marketplaces in the near future.

The controversy around blockchain gaming has grown with gamers expressing disdain for games that incorporate elements of crypto and blockchain. Yet, advocates argue that crypto and blockchain are perfect companions.

Asian-based gaming firms have largely backed the potential of blockchain. Despite substantial backlash, companies like Tokyo-based Final Fantasy developer Square Enix, South Korean WeMade, and Nexon continue to push forward with their blockchain gaming initiatives.

Sega’s Future

However, Sega’s candid skepticism may challenge the resolve of these gaming giants. Utsumi hasn’t entirely dismissed crypto. He cited Sega’s ongoing blockchain-related projects and IP provision plans. However, the company’s hesitance to risk its top IPs in P2E gaming is a blow to blockchain advocates.

If more companies decide to follow Sega’s cautious approach, this could spell uncertainty for the nascent industry. Sega’s shift in stance might prompt others to reconsider their commitment to blockchain gaming, casting doubts on its future.

  • QuickSwap Gaming Hub is a web3 gaming platform that focuses on making games fun and rewarding digital asset ownership to enhance the gaming experience.

Read more related articles:

Disclaimer

In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.

About The Author

Nik is an accomplished analyst and writer at Metaverse Post, specializing in delivering cutting-edge insights into the fast-paced world of technology, with a particular emphasis on AI/ML, XR, VR, on-chain analytics, and blockchain development. His articles engage and inform a diverse audience, helping them stay ahead of the technological curve. Possessing a Master's degree in Economics and Management, Nik has a solid grasp of the nuances of the business world and its intersection with emergent technologies.

More articles
Nik Asti
Nik Asti

Nik is an accomplished analyst and writer at Metaverse Post, specializing in delivering cutting-edge insights into the fast-paced world of technology, with a particular emphasis on AI/ML, XR, VR, on-chain analytics, and blockchain development. His articles engage and inform a diverse audience, helping them stay ahead of the technological curve. Possessing a Master's degree in Economics and Management, Nik has a solid grasp of the nuances of the business world and its intersection with emergent technologies.

Hot Stories
Join Our Newsletter.
Latest News

From Ripple to The Big Green DAO: How Cryptocurrency Projects Contribute to Charity

Let's explore initiatives harnessing the potential of digital currencies for charitable causes.

Know More

AlphaFold 3, Med-Gemini, and others: The Way AI Transforms Healthcare in 2024

AI manifests in various ways in healthcare, from uncovering new genetic correlations to empowering robotic surgical systems ...

Know More
Join Our Innovative Tech Community
Read More
Read more
Alchemy Pay Teams Up With BounceBit To Support Bitcoin Restaking Ecosystem
Business News Report Technology
Alchemy Pay Teams Up With BounceBit To Support Bitcoin Restaking Ecosystem
May 17, 2024
Top 5 Liquid Restaking Protocols Built on Top of EigenLayer
Digest Markets Software Technology
Top 5 Liquid Restaking Protocols Built on Top of EigenLayer
May 17, 2024
Magic Square Unveils IDO Platform Magic Launchpad To Democratize Retail Access For Web3 Investors
Business Markets News Report
Magic Square Unveils IDO Platform Magic Launchpad To Democratize Retail Access For Web3 Investors
May 17, 2024
Binance Partners with Taiwanese Authorities to Unveil Massive $6 Million Crypto Money Laundering
Opinion Business Markets Software Technology
Binance Partners with Taiwanese Authorities to Unveil Massive $6 Million Crypto Money Laundering
May 17, 2024