Nonfungible tokens (NFTs) and blockchain games startup double jump.tokyo has partnered with SEGA to develop digital collectibles based on the game company’s intellectual property (IP). For the NFT development, double jump received an investment from SEGA’s holding company.
SEGA, alongside Nintendo, was one of the global industry leaders in game devices before the Playstation era. Although its presence and influence in the market is not as prevalent as in the 80s and 90s, some of the characters developed for its games, notably Sonic the Hedgehog, are still high profile today. For the last two decades, SEGA’s focus has been on game development rather than consoles.
The partnership expects to start commercializing the NFTs in the summer. No specific characters were mentioned. However, the NFTs to be launched in the coming months relate to SEGA’s existing IP. Once the project progresses, NFTs based on IP currently in development and completely new content will also be launched. Additionally, double jump.tokyo wants to explore different ways for owners to make use of the digital collectibles.
SEGA’s entrance into the NFT market is yet another landmark for the industry. Sonic the Hedgehog and other characters are part of mainstream pop culture, which can further enhance NFT popularity. Additionally, the entertaining content produced by SEGA is often targeted at children, which might expand the reach of NFTs.
We have written before about Barbie-owner Mattel potentially exploring NFTs. The implications of a toy company entering this market is if children adopt NFTs at an early age, the product will become more normalized across generations and be more integrated into society. SEGA’s digital collectibles may be similar but could also appeal to nostalgic gamer enthusiasts.
Meanwhile, double jump.tokyo has partnered with NBA Top Shot’s Dapper Labs to use the company’s Flow blockchain in their applications. Beyond using the blockchain, double jump.tokyo is also expected to promote Flow in Japan and support the expansion of the blockchain into the new market.
While NFTs have recently been the subject of significant hype, some of the core applications for collectibles and art are likely here to stay. A significant number of very influential companies have plans to develop, launch, and brand their very own digital collectibles. Many will start to be advertised during the summer. It will be interesting to see how consumers react to such a range of brands and how corporations and their NFT startup partners attempt to differentiate their collectibles. Additionally, with popular brands and names joining the trend, it is likely that NFTs will diverge further from the image of crypto products and, like NBA Top Shot, become more attractive to regular consumers.
Some notable developments to look forward to in the NFT world are Playboy’s digital art NFTs to be auctioned on Nifty Gateway, Tom Brady’s NFT platform Autograph, and the expansion of Sports NFT platform SportsIcon following a round of funding from NBA Top Shot Creator.