SEGA SAMMY HOLDINGS recently addressed their in-game NFT plans in the annual management meeting. The company does not have any solid plans at the moment and will continue to experiment the best way to introduce NFTs. SEGA initially planned to roll out NFTs through Play-to-Earn (P2E) games last summer. However, the announcement was met with a flurry of negative reactions, mostly by longtime SEGA fans.
The management meeting was much anticipated as it usually highlights major company decisions as well as future directions. The president and vice president of SEGA SAMMY HOLDINGS, along with the president of SEGA CORPORATION represented the organization in addressing the recent concerns and future outlook.
There are several factors to take into consideration. Firstly, the company wants to ensure this initiative is not just another money-making opportunity, but a valuable addition to their games. They also want to ensure that all their future gaming models adhere to the Japanese regulations. Lastly, the management wants to mitigate any negative elements that NFT gaming might present.
Some of the fans have expressed their disappointment in the industry veteran. One of the major concerns was the environmental impact that NFTs may introduce. Ironically, SEGA’s very own Sonic the Hedgehog is an environmentalist, fighting Dr. Eggman’s threat to the planet. Some of the comments were vulgar and outright disrespectful. There is even a petition to turn over this decision.
P2E games had a break out year in 2021, setting many records both on-chain and off-chain. Axie Infinity led the way for many other projects which have seen success as well. Nonetheless, the industry isn’t all sunshine and rainbows, as regulatory backlash and scams remain a constant struggle for various stakeholders. For instance, South Korea just banned all P2E games from Apple and Google app stores.
As of now, SEGA’s conservative approach seems like a good strategy as their reputation and goodwill lies at stake. Read the full report from the recent management meeting here.
All investment/financial opinions expressed by NFTevening.com are not recommendations.
This article is educational material.
As always, make your own research prior to making any kind of investment.