Sega is creating more web3 titles based on its "popular franchises"

Sega is working with blockchain company Finschia Foundation to create web3 games based on its popular franchises.

The Sonic maker has joined Finscha Foundation as a governance member through its Sega Singapore subsidiary and said the partnership "expands to developing web3 games."

"As a governance Member, Sega Singapore will join in the general management and decision-making processes of the Finschia Foundation and verify the stable operation of the blockchain mainnet and security of the network as a network validator," reads a press release.

"To expand the Finschia ecosystem and popularize web3, Sega and Finschia will cooperate in developing web3 games utilizing Sega's popular game IP."

Sega Singapore is responsible for developing the Sega Group's web3 business on a global scale and also handles marketing in Southeast Asia.

The Finschia Foundation is operated by Line Next, a subsidiary of Japanese tech company Line Corporation (now known as LY Corporation following a merger with Yahoo Japan), and is based in Abu Dhabi.

In December 2023, Line Next secured $140 million to expand its web3 ecosystem by introducing new platforms and services, including the launch of a new global NFT platform called Dosi. The company also spoke of rolling out new web3 titles to "further accelerate web3 popularization."

Sega still searching for ways to leverage the blockchain

On its website, Finschia says it intends to become the world's top blockchain ecosystem by securing over 1 billion users and explains it has "taken over the vision and mission of LINE Blockchain while continuing to move the industry forward."

"FNSA is the cryptocurrency for transactions on Finschia. It is also a reward for contributors who contribute to the growth and development of the network," adds the company. "Through a protocol-based inflation mechanism, FNSA tokens are fairly distributed, creating a virtuous and sound cycle of increased adoption and network value."

Sega has blown hot and cold when it comes to blockchain gaming. Last year, Sega co-COO Shuji Utsumi told Bloomberg the company hoped to develop its own blockchain titles–but only if they could actually engage players in a meaningful way.

"What's the point if [the] games are no fun?" he said when asked about the company's plans. "We're looking into whether this technology is really going to take off in this industry, after all."

Despite Utsumi suggesting Sega was being cautious in what's still a rather speculative market, the company announced plans to create a new web3 title for the Game Dosi platform just a few days later. That title was part of a licensing deal it signed with none other than Line Next, which operates Finschia.

It's unclear whether Sega's partnership with Finschia is simply an evolution of the company's existing licensing deal with Line Next or something entirely new. In any case, it's clear Sega remains tantalized by the prospect of leveraging the blockchain to strip-mine key franchises.