Sega, once a leader in the blockchain gaming space, is now abandoning its plans to develop its own blockchain games, according to a Bloomberg report. Co-Chief Operating Officer Shuji Utsumi told Bloomberg in an interview, “We’re looking into whether this technology is really going to take off in this industry, after all. The action in play-to-earn games is boring. What’s the point if games are no fun?”
The Japanese gaming giant had previously announced that it would withhold some of its best-known games and IP from blockchain, but still allow third-party developers to produce blockchain games. Last year, it signed a deal with Double Jump Tokyo to develop blockchain games based on its lesser-known IP.
Sega had always been cautious about the allure of blockchain gaming. When it first announced its entry into the field, it warned that it would withdraw if “it is perceived as simple money-making.” The company is an investor in Asia-based crypto fund IVC, which is an active investor in GameFi projects.