In short: Sega, the Japanese gaming giant, has decided to suspend its plans to enter the blockchain gaming industry. The company will not bring popular titles onto the blockchain and has abandoned the development of new blockchain games. Co-chief operating officer Shuji Utsumi stated that play-to-earn games are boring and take the fun out of gaming. However, Sega is open to partnering with others to put some of its characters on the blockchain as NFTs. The company is still uncertain about the future of blockchain technology in the gaming industry.
Our quick analysis:
Hey there, gamers and crypto enthusiasts! It seems like the Japanese gaming giant Sega Corp has pressed pause on its plans to venture into the world of blockchain gaming. In a surprising turn of events, co-chief operating officer Shuji Utsumi recently revealed that Sega will not be bringing its popular titles onto the blockchain anytime soon. So, what's their reasoning behind this decision? Well, according to Utsumi, play-to-earn games in the blockchain sphere simply lack the excitement that gamers crave. In his own words, "The action in play-to-earn games is boring. What's the point if games are no fun?"
This shift in Sega's stance on blockchain technology is quite the U-turn. Initially, the gaming giant believed that entering the blockchain space could boost the popularity of its games and expand their audience. Apparently, Sega's rivals, such as Square Enix Holdings Co and Bandai Namco Holdings Inc, shared this optimistic viewpoint surrounding blockchain technology.
It's hard to blame Sega for their initial excitement. Play-to-earn titles like Axie Infinity had gained immense popularity among gamers, sparking interest in the potential of blockchain gaming. However, recent bearish trends in the crypto market seem to have dampened this enthusiasm, making Sega reconsider its plans.
Fortunately, Sega is not completely shutting the door on blockchain technology. They are open to the idea of partners minting NFTs for some of their iconic characters from games like Virtua Fighter and Three Kingdoms. It's a fascinating move that shows Sega's willingness to explore the possibilities of blockchain technology while ensuring it aligns with their vision for engaging and enjoyable gaming experiences.
Speaking of vision, Sega is currently contemplating its involvement in Web3, uncertain about whether this technology will truly take off in the gaming industry. However, the company seems to have a positive outlook on the concept of interoperable gameplay, where items and characters between games can be exchanged. This potential advantage of blockchain technology has caught Sega's attention and they are even willing to invest a few hundred million yen in related projects.
Utsumi also had a word of praise for video game companies venturing into the blockchain realm, admiring their penchant for taking risks and exploring new horizons. He emphasized that although some may consider the ideas proposed by blockchain advocates as extreme, it's the pioneers who often lead the way in uncharted territories. And it seems that Sega wants to keep a close eye on these potential trailblazers.
While we wait to see what the future holds for Sega's blockchain ambitions, it's worth noting that they've been making waves in the gaming industry through other avenues as well. Just a few months ago, Sega's parent company, Sega Sammy Holdings Inc, announced its intention to acquire Rivio Entertainment Oyj, the parent company of the popular Angry Birds game. This strategic move aims to expand Sega's presence in the mobile gaming market, with hopes of creating "significant synergies" between the brands.
So, dear readers, let's stay tuned to see how Sega's journey into the blockchain realm unfolds. Will they make a triumphant return or reconsider their position altogether? Only time will tell. But one thing's for sure – in the ever-evolving world of gaming, companies like Sega are constantly looking for ways to level up and capture the hearts of gamers everywhere.
[Reference: Bloomberg]
Disclaimer: The views and opinions expressed in this blog post are those of the author and do not necessarily reflect the official position of Sega Corp.
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Disclaimer: Our articles are NOT financial advice, and we are not financial advisors. Your investments are your own responsibility. Please do your own research and seek advice from a licensed financial advisor beforehand if needed.
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