One sector in the crypto and blockchain industry is gaining massive adoption right now. Nonfungible tokens (NFT) are coming from various sectors, including art, film, sports, and gaming. The creator of Sonic the Hedgehog game is the latest gaming company to join the NFT craze.
SEGA to launch its NFTs soon
Gaming giant SEGA has revealed that it would launch its NFTs in the summer. In fact, this latest development comes as companies and individuals in the arts and entertainment industries leverage blockchain technology to roll out unique digital content.
SEGA made this known in a Twitter post yesterday. The Tokyo-based gaming giant will work with blockchain startup double jump.tokyo to create NFTs centered on SEGA’s intellectual properties (IP).
Apart from this, reports suggest that SEGA had already invested in double jump.tokyo for the NFTs. That said, they expects them to be ready by the summer. At the moment, no specific characters have been mentioned. However, the blockchain firm will be developing the NFTs based on SEGA’s IP. Accordingly, it wouldn’t be surprising to see NFTs be based on some of its special characters, such as Sonic.
NFT market continues to expand
Granted, SEGA’s entry continues a rich tradition that has seen several entertainment companies enter the NFT market. In recent months, companies such as TIME magazine and Forbes have also launched and sold a few NFTs.
In addition, sports companies like Reebok and Adidas also launched their NFT collections while auction houses Sotheby’s, Christie’s, and Phillips are holding auctions for nonfungible tokens. No doubt, one of the industries with the biggest adoption is the music industry. The Weeknd, Eminem, and Soulja Boy are some of the prominent musicians to enter the emerging market.
DC comics also revealed its intention to enter the NFT marketplace. Certainly, the sector is set to expand in the coming months as more companies, celebrities, and artists begin to take advantage of this unique technology to digitize their work.