Gaming powerhouse SEGA Corp. — known for iconic franchises such as Sonic The Hedgehog and Yakuza — has opted to withdraw from the play-to-earn market.

The company’s decision comes in the wake of a turbulent crypto industry and dwindling player interest in blockchain-based gaming, popularly known as GameFi.

SEGA Pauses Ambitious Play-to-Earn Plans

SEGA’s Co-Chief Operating Officer Shuji Utsumi underscored the seismic shift in strategy for the venerable firm. He opined that play-to-earn games are “boring,” questioning their merit if they do not deliver on the fundamental promise of fun.

“For the majority of people in the video game industry, what blockchain advocates say may sound a bit extreme, but that is how the first penguin has always been,” said Utsumi.

Firms like Square Enix and Bandai Namco, alongside SEGA, previously endorsed the blockchain-based technology that it hoped would enhance the allure of its titles. However, the implosion of the crypto market has resulted in a significant drop in the appeal of GameFi.

Utsumi noted a reluctance to pledge SEGA’s major franchises to third-party blockchain projects. He fears that such moves could dilute the value of their content. Instead, the company will cautiously continue to dabble in blockchain technology.

SEGA will allow less

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Author: Bary Rahma

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