Sega is putting a halt on their blockchain plans
Sega doesn’t do...what Nintendo doesn’t do.
By Milos
Bloomberg have reported that Sega is stopping their plans to compete in the Web3 ecosystem. They started to get into the blockchain space back in 2021, but it seems like they are now heavily reconsidering their decision.
They didn’t cancel all of their plans, though, but we are now witnessing (in real-time) the moment where the tech giant admits their mistake. Sega’s co-Chief Operating Officer Shuji Utsumi told Bloomberg News that the company “will withhold its biggest franchises from third-party blockchain gaming projects to avoid devaluing its content.”
All of this comes as a result of the continuous decline in the crypto market, or as some people call it “Crypto Winter”. Even though various crypto promoters kept telling that investors would be earning a fortune by buying into various schemes, all they ended up with is a broken bank and no money.
Thankfully, no layoffs have been announced at this point, but given the initial plans back in 2021 and a low sales forecast…I would still be wary.