SEGA will start selling NFTs in 2021 to help stabilize earnings

SEGA is getting in on the NFT craze with digital artwork, video content, and even background music used in its biggest games.

@DeekeTweak
Published Tue, Apr 27 2021 10:18 AM CDT

SEGA plans to mine its rich vein of characters and IP to sell NFT (non-fungible tokens) artwork in 2021, the company today announced.

SEGA will start selling NFTs in 2021 to help stabilize earnings 423 | TweakTown.com

After the first bit of digital art sold for tens of millions, everyone is jumping into NFTs; concept artists, digital mavericks, and of course, games publishers. First Square Enix jumped into the NFT craze, and now SEGA is following suit.

The company's motivations for NFT adoption are clear and SEGA is simply chasing new earnings avenues. SEGA's 9-month earnings slid in 2020 due to coronavirus interruption of segments like amusement and pachinko; Net sales were down 25%, operating income was down 51%, and total profits were negative throughout the period as the company weathered COVID-19 shocks as well as new internal restructuring plans.

"SEGA Corporation will begin sales of NFT digital content utilizing blockchain technology in collaboration with double jump.tokyo Inc. by the summer of 2021," reads a recent press release.

"Under this initiative, SEGA will sequentially sell a wealth of digital assets, such as visual art from the time of launch and video and background music used in games, as NFT* content for a number of classic IPs that were developed for hardware released by SEGA in the past and are still highly popular around the world. This will be the first of many such sales. In the future, we will also explore services that will enable users to effectively utilize and enjoy their NFT content."

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NEWS SOURCE:sega.co.jp

Derek joined the TweakTown team in 2015 and has since reviewed and played 1000s of hours of new games. Derek is absorbed with the intersection of technology and gaming, and is always looking forward to new advancements. With over six years in games journalism under his belt, Derek aims to further engage the gaming sector while taking a peek under the tech that powers it. He hopes to one day explore the stars in No Man's Sky with the magic of VR.

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