“The Sega Master System is a third-generation home video game console that was manufactured by Sega. It was originally released in 1985 as the Sega Mark III in Japan. After being redesigned prior to its North American launch, the console was renamed Master System and released in 1986 in North America, 1987 in Europe, and 1989 in Brazil.” — Wikipedia
The Light weight of Ed Benguiat’sITC Modern No. 216 was used for the system’s logo and packaging of the console. Most of the initial game packaging also used the typeface, creating a cohesive identity for the brand. To our contemporary eyes it seems odd to see a bookish serif promoting video games, but tightly spaced, large x-height serifs were commonly used in the ’80s for every kind of high-tech product. (See Apple.)
Later, the type in the logo switched to a wider, small-size-optimized version of Century and the game titles replaced ITC Modern 216 with the much bolder Pistilli Roman or their own branding.
P.S. The Sega logo was likely custom drawn, not made from a font, but similar forms can be found in Yagi Double.