Sega Will Avoid NFTs If They’re Perceived as a Money-Making Scheme

The company is currently owned by Japanese conglomerate Sammy, who has a history of avoiding and sometimes owning up to making games with in-game items that can be converted into real money. The industry’s most recent example was Fortnite, which saw its battle pass hit the market before it made any profits from game sales.

The “what is nft art” is a question that has been asked for quite some time. The answer to the question, is that NFTs are not considered an art if they are used as a money-making scheme.

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Unlike other firms that have apparently gone all-in on NFTs and the purported benefits that non-fungible tokens may bring to the game industry, Sega has opted to tread carefully on the subject.

This has been made clear in a Q&A letter that was published at the end of December by Sega Sammy Holdings, which included insight from Sega president and COO Yukio Sugino and other top executives. NFTs were brought up during one portion of the management meeting, and one executive clarified that Sega would not be dipping its feet into NFTs if fans saw them as a “money-making” scheme.

“In terms of NFT, we’d want to test out some different experiments, and we’ve already begun many different research and considerations,” Sega revealed before explaining its position on the blockchain-based technology.

“There have already been numerous announcements about this, especially from abroad, however some consumers are having unpleasant emotions at this time.” Many factors must be carefully considered, including how to neutralize bad features, how much of this may be included within Japanese regulations, and what will be accepted and what will not be by users. Then, if this leads to our objective of ‘Continuously Creating, Forever Captivating,’ we will examine it further; nevertheless, if it is regarded as a mere money-making opportunity, I would want to make a choice not to pursue.”

Ubisoft, for example, has already proved its commitment to the NFT market with the release of Quartz, an NFT platform, while others have taken more cautious moves. Konami, for example, has tried to acclimate its followers to the concept of NFTs by auctioning products based on one of its most popular series, Castlevania.

Sega Sammy is the source of this information.