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- NFTs wave was so powerful that it grabbed the attention, and now big players in industries are plunging into it
- Sega Corporation had already decided to expand their workings in Sega NFT
- In 2021, the total non-fungible token in terms of Market Capitalization had reached up to $22 BIllion
The ongoing craze of NFTs that are Not-Fungible Tokens is attracting a massive crowd towards it, which ultimately drives many Big corporations and even individuals from various industries. For the simple reason, ‘either create a customer base for your products or enter the potential place with your product where there are customers,’ Non-Fungible Token or NFT market is that potential place where many users and customers are already approaching. Now companies need to be potential service providers.
The NFT market attracts most of the traffic related to the Gaming Industry; upcoming Metaverses are also examples of the gaming industry’s potential. One of the prominent names of aspiring non-fungible token users is Japanese Multinational Gaming Company SEGA Corporations.
Japanese Game Company SEGA, a multinational company, heavily invested in gaming for a long time in 2021, announced its plan to expand its future income plans to include NFTs. As mentioned earlier, no big company wants to be left behind in the race towards the Non-fungible tokens revolution, especially gaming corporations.
Following the trend, Japanese game company SEGA decided to dive into NFTs and collaborated with a Japanese game developing Company, double jump. Tokyo in April 2021 for the creation of SEGA NFTs.
However, along with these developments in SEGA NFTs, the corporations have heard about the use of those NFTs, and they have to follow the Japanese crypto regulations. In this regard, higher officials of SEGA have stated that there will be no ‘play-to-earn’ available to get SEGA NFT if the community demands an objection to it. Also, since this feature seems to be simple money-making, it can be perceived as violating Japanese Crypto Regulations.
‘Play-to-earn’ modal of gaming has been popular in western countries but is not being praised by users in SEGA, and it has got ‘negative reactions’ regarding this method of gaming. SEGA has considered it and assured that they would ‘carefully assess’ everything related to Non-fungible Tokens, including its launch, it’s working, and its regulations. SEGA Officials have added that for NFT, they would like to perform various experiments regarding SEGA NFT. Further, their vision is to make sure SEGA is about providing a creative experience to users, and if anyhow it would be used or seen as a money-making gimmick, the Company will not proceed in that way.
Non Fungible Tokens or NFT first came into existence in 2014, but it gained a massive boom in mid-2021. The NFT boom can be seen in its value growth from just $100 million in 2020 to $22 Billion in 2021.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
