In an unexpected turn of events, Shuji Utsumi, the Chief Operating Officer (COO) of gaming giant Sega, has expressed doubts about the functionality of play-to-earn (P2E) crypto games, stating they are “boring” and questioning their overall entertainment value. The firm has previously shown interest in Non-Fungible Tokens (NFTs) within gaming and established partnerships with several key crypto and gaming companies. Considering Sega’s previous bullish attitudes towards its NFT partnership with doublejump.tokyo, one notable Japanese blockchain gaming firm, these statements come as quite a surprise.
Sega’s hesitations are also evident in its unwillingness to utilize its esteemed franchises as test subjects for blockchain gaming experiments. Fans of Sonic and Yakuza can breathe easy knowing that their beloved characters will not appear in NFT marketplaces in the near future. While many advocates argue that crypto and blockchain are likely to form a harmonious relationship in the gaming industry, the public’s reception towards games that fuse elements of crypto and blockchain seems to be far from enthusiastic.
In the gaming industry, particularly among Asia-based firms, blockchain gaming has seen significant investment. Despite Sega’s current skepticism, other big industry names like Tokyo-based Final Fantasy series developer Square Enix, and South Korean firms WeMade and Nexon have decided to push forward with their blockchain gaming ventures.
Nevertheless, Utsumi’s candid comments on the matter may cause other gaming giants in East Asia to reassess their stance. Sega’s announcement not to venture its major Intellectual Properties (IP) into the P2E market could be seen as a setback for advocates. However, Sega isn’t shutting the door on crypto completely. The company is still planning to announce the provision of IP to blockchain initiatives this year, while they continue to invest in blockchain-related projects.
This approach – cautious yet open to future possibilities – is potentially a more sustainable way forward than making bold, risky leaps. While open to blockchain applications, Sega prefers to wait and observe its industry growth rather than taking a proactive, hands-on approach. The future of the blockchain industry hangs in the balance as its success might depend on companies taking a progressive, rather than a reserved stance.
Source: Cryptonews
