The legacy gaming brand, Sega, which supported the future of GameFi and blockchain-based games, is reportedly calling it quits from the blockchain industry, as stated in a recent Bloomberg report.
Shuji Utsumi, Sega’s co-Chief Operating Officer, expressed the company’s newfound apprehension towards the technology and its decision to scrap plans for developing its blockchain games.
While Sega had previously announced that it would keep some of its renowned games and intellectual property (IP) away from blockchain integration, it still aims to permit third-party developers to create blockchain games.
In a previous announcement, Sega had partnered with Double Jump Tokyo, a development house, to produce blockchain games based on its lesser-known IP.
The gaming giant had always exercised caution when delving into the allure of blockchain gaming. Before entering the field, Sega had stated that it would withdraw if the perception of its involvement was merely focused on monetary gains.
It’s worth noting that Sega remains an investor in IVC, an Asia-based crypto fund heavily involved in GameFi projects. Several Sega executives attended the recent IVS crypto conference hosted by IVC in Kyoto, Japan.
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As the company reassesses the potential of blockchain, it remains to be seen how this development will impact the trajectory of GameFi and its integration into the gaming landscape.
