Xbox head Phil Spencer is skeptical about NFTs in video games

Xbox head Phil Spencer is skeptical about NFTs in video games

Phil Spencer, Microsoft’s head of gaming, commented on his skepticism towards nonfungible tokens, or NFTs, in an interview with Axios:

“What I’d say today on NFT, all up, is I think there’s a lot of speculation and experimentation that’s happening, and that some of the creative that I see today feels more exploitive than about entertainment.”

As head executive of Microsoft’s Xbox division, Spencer’s words carry weight. Xbox is the game console operating system with the second-largest global market share behind only PlayStation. This gives Xbox a lot of power over the acceptance or rejection of NFT projects into the gaming ecosystem.

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What console wars? PlayStation has diverted from the pack to lead in global market share. Source: Statcounter

Spencer added that he is not completely against all NFTs,

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