Sega Joins Forces with Finschia for Web3 Game Development
Date: 2024-01-21 Author: Dima Zakharov Categories: BUSINESS
Sega Singapore Collaborates with Finschia Foundation
In an exciting development, Sega Singapore, a subsidiary of Sega, is joining forces with Finschia Foundation as a management member. They will actively participate in decision-making processes and ensure the stability and security of the core blockchain network as a network validator.
Official Press Release Statement:
"Sega and Finschia will collaborate on developing Web3 games using Sega's popular gaming IP to expand the Finschia ecosystem and promote Web3."
As part of its global responsibilities, Sega Singapore is tasked with expanding the Sega Group's Web3 business and conducting marketing activities in Southeast Asia, showcasing a comprehensive approach to this partnership.
A Closer Look at the Finschia Ecosystem
Finschia is managed by Line Next, a subsidiary of LY Corporation (formerly Line Corporation), based in Abu Dhabi. Line Next received a significant boost in December 2023, securing $140 million for expanding its web3 ecosystem, including the launch of the global NFT platform called Dosi and the introduction of new web3 games.
Finschia's native cryptocurrency, FNSA, plays an integral role in platform transactions, serving as a reward for participants and highlighting the protocol-based inflation mechanism for fair distribution.
Previous Collaboration with Line Next
Sega's interaction with blockchain technology has been dynamic. While COO Shuji Utsumi expressed caution last year, stating that the company was assessing the viability of blockchain technology in the gaming industry, Sega later announced plans to create a new web3 game for the Game Dosi platform in collaboration with Line Next.
The current partnership with Finschia raises questions about its connection to Sega's previous licensing agreement with Line Next. Nevertheless, it is evident that Sega remains intrigued by the potential of blockchain technology to revitalize and expand its key franchises in the evolving world of Web3 gaming.
