Sega Singapore, a subsidiary of the video game giant, has partnered with the Finschia Foundation, a non-profit based in Abu Dhabi, to launch a series of Web3 games based on Sega’s famous intellectual property.
According to the announcement, Sega Singapore is doing so to expand the Finschia ecosystem and popularize Web3 gaming, two areas it has a vested interest in. It will also participate in the Finschia governance protocol, operating a node and contributing to the security of the network.
Sega Singapore is responsible for developing the company’s Web3 strategy on a global scale, as well as marketing directly to its southeast Asian audience. Some of the games produced by Sega include Sonic the Hedgehog, Persona, Company of Heroes, Two Point, and Like a Dragon.
The news contradicts previous reports that Sega is backing out of the Web3 industry. In 2023, Bloomberg published a story quoting Sega’s Chief Operating Officer, who said that play-to-earn games are “boring” and that the company wouldn’t be producing any Web3 games in the near future.
The partnership with Finschia may then signal a shift in the company’s attitudes towards Web3 gaming, with Sega giving it another go. There’s no word yet on what IP it will use to create the Web3 games, but the company has gone on record in the past saying it would use lesser IPs rather than heavy hitters.
Finschia is the successor to the LINE blockchain, founded in 2019, and aims to become the world’s largest blockchain ecosystem, supporting over 1 billion users and embodying a community-centered approach. It rewards contributors to the ecosystem and has onboarded many Web2 companies.
Sega Doubles Down on Web3
Even though Sega has had an on-off again relationship with Web3, there are some stories that show its bullish sentiment for the space. Here are two stories we have covered about the company and the next iteration of the internet, both from two years ago.
First, Sega had planned a “Super Game” involving non-fungible tokens and diverse tech. According to an interview with Sega VP Shuji Utsumi, titles under the Super Game moniker would need to meet four criteria: on multiple platforms, developed in multiple languages, have a simultaneous world release, and be triple A quality.
Second, Sega registered two NFT-related trademarks in its home country Japan. The two trademarks were registered for “Sega Classics NFT collection” and a “Sega NFT” logo. The filings came with measured remarks from some of the company’s executives, who wanted to make sure any NFTs the company issued were in line with the company’s vision.
Sega has a legacy in gaming, so it’s a great sign that it has partnered with Finschia to release Web3 games using its classic IP. Time will tell what games it produces, but given the company’s track record, we think they’ll have a serious impact.