Video gaming giant SEGA has announced an ease in its plans for blockchain gaming.
The move follows the collapse of several global firms in the industry and an increase in crashes across the crypto market.
Now, the Japanese multinational organization is showing far less enthusiasm toward blockchain technology, an initiative once branded by its executives as ‘the future of gaming.’
The firm’s co-chief operating officer Shuji Utsumi told Bloomberg that all internally developed titles utilizing blockchain technology have been put on pause and he considers play-to-earn games as “boring.”
“What's the point if games are no fun?” he told the site.
Although SEGA has decided to scale back on its blockchain plans, the company will still work with third-party firms to develop NFTs for franchises such as Three Kingdoms and Virtua Fighter.
However, to avoid devaluing its content, the firm has kept its largest franchises – Sonic the Hedgehog and Yakuza – away from blockchain projects.
Sega will continue to monitor advancements in blockchain gaming to reassess its investments and decipher if it will become useful for the firm in the future.
“We're looking into whether this technology is really going to take off in this industry after all,” he said.