Sega Withdraws from Blockchain Gaming Sector, Citing Lack of Interest in Play-to-Earn Models
According to a recent report by Bloomberg, Sega, once a prominent advocate for GameFi and blockchain-based games, has decided to exit the sector. The co-Chief Operating Officer of Sega, Shuji Utsumi, expressed concerns about the technology and announced the cancellation of their plans to develop their own blockchain games.
In an interview with Bloomberg, Utsumi explained that Sega is now questioning whether blockchain technology will truly thrive in the gaming industry. He stated, “The action in play-to-earn games is boring. What’s the point if games are no fun?” This sentiment reflects their growing apprehension towards the potential of play-to-earn gaming models and their desire to focus on more engaging experiences.
While Sega had previously indicated that they would keep some of their well-known games and intellectual properties (IPs) off the blockchain, they still plan to allow third-party developers to create blockchain games. They had previously partnered with a development company named Double Jump Tokyo to explore blockchain games based on their lesser-known IPs.
Sega has always approached the allure of blockchain gaming cautiously. Even when they initially announced their entry into the field, they made it clear that they would withdraw if it were perceived as purely a money-making endeavor. Their decision to withdraw from the sector suggests a reassessment of the technology’s potential and the market demand for play-to-earn gaming models.
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