Press "Enter" to skip to content

Xbox Boss Shares His Thoughts on Gaming NFTs; Says He Is 'Cautious'

RJ Pierce, Tech Times

Xbox head Phil Spencer has finally shared his thoughts on the gaming NFT fad. 

(Photo : Ramin Talaie/Corbis via Getty Images)

Phil Spencer, head of Microsoft Xbox and Microsoft Studios speaks during a media event to introduce the Oculus Rift virtual reality headset in San Francisco, California on Wednesday, June 11, 2015.

Spencer says that he is a little “cautious” about the whole thing, claiming that the field itself still relies heavily on experimentation and speculation, writes IGN. 

He further claims that right now, the gaming NFT trend is allegedly “more exploitative than creative,” but also expresses that he doesn’t think of everything in it the same way. 

Lastly, he said that at their current state, non-fungible tokens are a bit too controversial to have under the Xbox umbrella as of the moment. 

The Xbox boss made his thoughts known in an interview with Axios, where he was asked about the current trend that’s taken the gaming industry by storm. While he’s expressed his wariness about the whole thing, he also made it clear that the company isn’t drawing a firm line against gaming NFTs as a whole. 

For now, the focus of Xbox is not to get into the non-fungible token trend, but to entertain its players, writes GameRant. 

That’s because the gaming industry itself is still trying to figure out the full potential of these tokens. What Spencer means is that it’s way too early to invest in it. 

(Photo : Rafael Henrique/SOPA Images/LightRocket via Getty Images)

BRAZIL – 2021/08/31: In this photo illustration the Non-fungible token (NFT) logo seen displayed on a smartphone.

But that doesn’t mean big-name game developers and publishers are staying away from it. 

As of late, some games such as “Fortnite,” “Apex Legends,” and “Call of Duty Warzone” are already selling in-game items to players which could technically be classified as NFTs in the future, if somebody wanted to make them as such. 

Read also: Play-to-Earn NFT Games to Keep an Eye Out for This November 2021

Big Names Getting Into NFTs

Should Xbox eventually consider entering the world of gaming NFTs, they actually won’t be the first gaming industry giant to do so. 

EA is among these giants. Earlier this month, they claimed to believe that these tokens are an “important part of the future of gaming,” reports IGN. 

EA CEO Andrew Wilson made it quite clear, saying that the company’s reputation of creating digital content that has “real collectible value” could make them a leader in the field. 

This digital content he’s referring to could very well be things such as the cards from “FIFA Ultimate Team,” which is a “FIFA” game mode that allows players to collect cards using a loot box-style system. Something like this can also be applied to certain items such as in-game cosmetics, like those used in “Apex Legends.” 

Another big industry name buying into the gaming NFT trend is Ubisoft, who’s said that blockchain games are important for the company’s future. 

(Photo : Jeremy Moeller/Getty Images)

DUSSELDORF, GERMANY – AUGUST 07: Ubisoft logo photographed on August 07, 2021 in Dusseldorf, Germany.

What’s Next For Xbox? 

While Phil Spencer remains cautious about NFTs, Xbox is pursuing other ventures as of the moment–namely shoring up their game stable with big-name exclusives such as “Elder Scrolls 6” and “Halo Infinite,” to name a few. 

There’s no telling when Xbox would be more open to the idea, but with the gaming NFT industry growing at a rapid pace, maybe it’s only a matter of time. 

Related: How to Use a Mouse and Keyboard on Your Xbox–and Which Games to Play With Your New Hardware

This article is owned by Tech Times 

Written by RJ Pierce 

ⓒ 2021 All rights reserved. Do not reproduce without permission.

Be First to Comment

Leave a Reply

Your email address will not be published.