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Sega Expands Web3 Presence with Line Next

Sega strengthens ties with Line Next, bringing its game IPs to the recently launched DOSI platform.

Eliza Crichton-Stuart author picture}

Eliza Crichton-Stuart

Head of Operations

Sega 2.webp

Sega has solidified its commitment to the web3 gaming sector through a strategic partnership with Line Next, the web3 venture of South Korean social network Line. The collaboration, featuring an IP deal announced in July 2023, highlights Sega's decision to bring one or more of its game IPs to the recently rebranded DOSI platform, which officially launched in January 2024.

Notably, Sega Singapore, a subsidiary responsible for Sega's general web3 business, has taken on a significant role as a governance member and node validator on Line Next's Finschia blockchain. The objective is to expand the Finschia ecosystem, supporting DOSI and its partner games while contributing to the broader popularization of web3, leveraging Sega's renowned IPs.

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Sega's Stance on Web3 

This move by Sega comes after a period of speculation in mid-2023 when there were predictions that the company might withdraw from the web3 gaming sector. Sega Co-COO Shuji Utsumi's previous questioning of the fun factor in web3 games fueled these speculations. However, Sega has since clarified its intention to remain in the web3 space and actively integrate blockchain technology into current and future game developments.

In addition to this collaboration, the news coincides with Finschia and Klaytn's joint proposal for a merger. The upcoming launch of a bridge connecting Finschia to Ethereum and Klaytn, expected by the end of February and developed by web3 tech company Neopin, further indicates the evolving landscape of blockchain integration in the gaming industry.

Neopin

Line Next and DOSI 

Line Next, the US-based blockchain arm of South Korean social network Line, recently secured a substantial $140 million strategic investment from Crescendo Equity Partners. This funding is aimed at accelerating the growth of Line Next's DOSI blockchain social and gaming platform. Throughout 2023, Line Next has been developing a beta browser-based version of DOSI, setting the stage for the official launch of its mobile app in January 2024.

The investment is expected to play a pivotal role in ensuring a smooth and successful launch of DOSI's mobile app. Line Next envisions a seamless integration with Line's existing NFT marketplace in Japan and other services, including DOSI Citizen. The strategic roadmap also includes the development of an AI-based social app, new games featuring the Brown & Friends intellectual property, and collaboration with web2 game developers in the future.

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Finschia Blockchain

With Crescendo Equity Partners taking on the role of a governance member in Line Next's Finschia blockchain, this strategic partnership aims to fortify the foundation of DOSI, creating new opportunities for growth and innovation. Line Next reports a user base of approximately 5.5 million DOSI users and a distribution of over 20 million NFTs, aligning with their vision of global competitiveness and leadership in web3 services.

Kevin Lee, Managing Partner of Crescendo Equity Partners, shared the investment thesis, stating: "Line's global competitiveness and its vision to lead Web3 services were the investment thesis. We aim to build a standard for web3 apps that general users can easily use and adopt blockchain for various web2 services and brands." 

This substantial injection of $140 million positions Line Next for an exciting 2024, marking a significant step forward in the evolution of blockchain-based social and gaming platforms. As Line Next continues to integrate technology with mainstream applications, the industry eagerly anticipates the impact it will have on the future of gaming and social interactions.

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Final Thoughts

In essence, these developments highlight the growing importance of web3 in reshaping the gaming landscape. By leveraging blockchain technology, Line Next, Sega, and other key players are pioneering new avenues for immersive gaming experiences, digital asset ownership, and decentralized ecosystems. As the industry embraces these advancements, the impact on web3 gaming is poised to redefine player engagement, ownership, and the overall gaming experience for years to come.


NewsPartnership

updated:

February 18th 2024

posted:

January 26th 2024

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