Sega’s COO Describes P2E Games As Boring, Withholds Franchises From Blockchain: Report
Key Points:
- Sega is pulling back from blockchain gaming due to recent developments and the global crypto industry meltdown.
- Co-Chief Operating Officer Shuji Utsumi described P2E games as boring and stated that the company will withhold its biggest franchises from third-party blockchain gaming projects.
- The firm will allow external partners to use its lesser-known characters for non-fungible tokens and continue to invest in related projects, but will suspend its plans to develop GameFi in the short term.
Sega, once a blockchain gaming advocate, withdraws from the industry due to recent developments and described P2E games as boring, as per Bloomberg.
Sega, a gaming studio known for popular titles such as Sonic The Hedgehog and Yakuza, was once regarded as one of the most ardent supporters of blockchain gaming. However, recent developments suggest that the company is now taking a step back from the industry due to the global crypto industry meltdown.
In an interview with Bloomberg News, Co-Chief Operating Officer Shuji Utsumi stated that P2E (play-to-earn) games are boring and that the firm will withhold its biggest franchises from third-party blockchain gaming projects to avoid devaluing its content. This decision marks a significant shift for Sega, which previously advocated using blockchain-based technology to boost the appeal of its titles.
Although Sega will be suspending its plans to develop GameFi in the short term, the company will continue to invest in related projects and allow external partners to use its lesser-known Three Kingdoms and Virtua Fighter characters for non-fungible tokens. The company’s intent to join the once-red-hot NFT community, first announced in 2021, drew widespread criticism from gamers who viewed crypto technology as bad for the environment.
Utsumi was also non-committal about employing Web 3.0 technology in what Sega dubs its “super game” initiative, a lineup of big-budget online multiplayer games due to roll out from 2026. Sega’s shift reflects a broader cooling on the concept of web3, a term used to describe an internet built around the blockchain, that once attracted billions of dollars from the likes of Andreessen Horowitz. Peers such as Ubisoft Entertainment SA have also pulled back on their investments in NFT games after drawing criticism amid low interest.
DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Author
News
Sega’s COO Describes P2E Games As Boring, Withholds Franchises From Blockchain: Report
Key Points:
- Sega is pulling back from blockchain gaming due to recent developments and the global crypto industry meltdown.
- Co-Chief Operating Officer Shuji Utsumi described P2E games as boring and stated that the company will withhold its biggest franchises from third-party blockchain gaming projects.
- The firm will allow external partners to use its lesser-known characters for non-fungible tokens and continue to invest in related projects, but will suspend its plans to develop GameFi in the short term.
Sega, once a blockchain gaming advocate, withdraws from the industry due to recent developments and described P2E games as boring, as per Bloomberg.
Sega, a gaming studio known for popular titles such as Sonic The Hedgehog and Yakuza, was once regarded as one of the most ardent supporters of blockchain gaming. However, recent developments suggest that the company is now taking a step back from the industry due to the global crypto industry meltdown.
In an interview with Bloomberg News, Co-Chief Operating Officer Shuji Utsumi stated that P2E (play-to-earn) games are boring and that the firm will withhold its biggest franchises from third-party blockchain gaming projects to avoid devaluing its content. This decision marks a significant shift for Sega, which previously advocated using blockchain-based technology to boost the appeal of its titles.
Although Sega will be suspending its plans to develop GameFi in the short term, the company will continue to invest in related projects and allow external partners to use its lesser-known Three Kingdoms and Virtua Fighter characters for non-fungible tokens. The company’s intent to join the once-red-hot NFT community, first announced in 2021, drew widespread criticism from gamers who viewed crypto technology as bad for the environment.
Utsumi was also non-committal about employing Web 3.0 technology in what Sega dubs its “super game” initiative, a lineup of big-budget online multiplayer games due to roll out from 2026. Sega’s shift reflects a broader cooling on the concept of web3, a term used to describe an internet built around the blockchain, that once attracted billions of dollars from the likes of Andreessen Horowitz. Peers such as Ubisoft Entertainment SA have also pulled back on their investments in NFT games after drawing criticism amid low interest.
DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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