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Sega Singapore partners with Finschia to develop Web3 games

Sega

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TL;DR

  • Sega Singapore has announced a partnership with Finschia that will help the firm develop Web3 games.
  • Strategic partnership and the blockchain sector.

Sega Singapore, a subsidiary of the well-known Japanese entertainment company Sega, has recently unveiled plans to delve into the Web3 gaming space through a strategic partnership with Finschia, a blockchain project. This collaboration aims to bring some of Sega’s established franchises into the Web3 realm, marking a significant shift in the company’s stance on blockchain gaming.

Sega Singapore to develop Web3 games

As part of this venture, Sega Singapore is actively involved in securing the Finschia network by running a node and participating in the protocol governance. This move represents the latest development in Sega’s evolving position regarding Web3 and blockchain games. Initially, there seemed to be reluctance within Sega, as co-Chief Operating Officer Shuji Utsumi expressed reservations about Web3 games, deeming them “boring” in a statement made in July. Utsumi emphasized the need to safeguard Sega’s flagship intellectual properties (IPs) and hinted at a selective approach, stating that only lesser franchises might be licensed for such games.

However, there was a notable shift in Utsumi’s perspective by October, acknowledging that Web3 and blockchain elements could introduce innovative ideas to the gaming ecosystem. He recognized the potential for players to desire ownership of in-game assets and, in some instances, the ability to earn money—a shift in player preferences that hadn’t existed before. This collaboration with Finschia follows Sega’s earlier foray into blockchain gaming when, in September 2022, the company announced its first blockchain game.

The firm licensed its Sangokushi Taisen franchise to Double Jump Tokyo, a blockchain company. The game was designed to leverage Oasys, a game-oriented blockchain, to incorporate Web3 elements into the gaming experience. The decision to partner with Finschia underscores Sega’s commitment to exploring the possibilities of Web3 gaming and blockchain technology. The company’s involvement in securing the Finschia network and contributing to protocol governance demonstrates a proactive approach, signaling a departure from the initial skepticism expressed by Utsumi.

Strategic partnership and the blockchain sector

This shift in strategy aligns with a broader industry trend where established entertainment companies recognize the potential of Web3 and blockchain technologies to revolutionize the gaming landscape. Sega’s willingness to integrate its iconic franchises into the Web3 space suggests a strategic move to adapt to evolving player preferences and explore new avenues for revenue generation. The collaboration also highlights the dynamic nature of the gaming industry, where companies may reevaluate their positions based on the evolving landscape and the potential for innovative technologies to reshape traditional gaming paradigms.

Sega’s engagement with Finschia serves as a noteworthy example of a traditional gaming giant embracing blockchain technology and Web3 concepts to stay relevant in a rapidly changing market. As the partnership progresses, it will be interesting to observe how Sega’s involvement in Finschia’s governance and network security contributes to the development of Web3 games. The success of this venture could influence other gaming companies to explore similar collaborations, further accelerating the integration of blockchain technology into mainstream gaming experiences.

Sega’s partnership with Finschia represents a strategic move to explore the potential of Web3 gaming and integrate established franchises into the blockchain space. The company’s active participation in securing the Finschia network reflects a shift in attitude towards blockchain technology, signaling a willingness to embrace innovation and adapt to changing player preferences. As the gaming industry continues to evolve, collaborations like this one may pave the way for a new era of interactive and decentralized gaming experiences.

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Owotunse Adebayo

Adebayo loves to keep tab of exciting projects in the blockchain space. He is a seasoned writer who has written tons of articles about cryptocurrencies and blockchain.

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