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SEGA, once intrigued by the power of the Blockchain, appears to have changed course, with the company's COO Shuji Utsumi declaring that "the action in play-to-earn games is boring. What’s the point if games are no fun?"

Speaking to Bloomberg, Utsumi said that SEGA doesn't want to devalue the strength of its biggest IPs, like Sonic the Hedgehog, by allowing them to be used in third-party blockchain games. The executive went on to cast doubt on whether the prolific publisher would implement Web3 technology in future projects as well, stating: "We're looking into whether this technology is really going to take off in this industry, after all."

At the blistering speed at which technology advances and life on the internet take place, NFTs might seem like they're already in the back mirror. However, SEGA didn't entirely shut the door on the whole non-fungible thing, implying that the company will still offer characters from some of its lesser-known franchises up to blockchain games set to be announced later this year, but we imagine the reception to that inevitable reveal will be no less frosty than all the rest.

What do you think of SEGA's backtrack on the blockchain, or at least when it comes to the characters the company cares about? Let us know in the comments section below.