Xbox: Phil Spencer mistrusts NFTs in video games; this is your opinion

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Phil Spencer, head of Xbox, does not want to be part of an industry based on the use of NFT as a technological avenue for exploitation. This type of cryptographic token, on the rise during the last year, it is a non-expendable voucher (it cannot be exchanged, they are unique), and therefore give rise to verifiable scarce digital goods, resulting in unique collectible items to trade with.

Phil Spencer will only accept NFTs if they are used as a method of creativity

In video games, NFTs are being used – in most cases, not all – to create assets subject to speculation, with prices controlled by the user, not by development studios; like a chain of auctions. Selling, reselling and auctions are the order of the day, and that’s what Phil Spencer wants to stay away from.

“I think there is a lot of speculation and experimentation going on,” he begins by saying. “So what some of the creatives I see today feel more exploitative than entertaining”, explicó Spencer.

The manager does not believe that all the NFTs aimed at videogames are close to exploitation —obtainment of economic goods—, since he does consider that there is room for creativity in a journey that, according to his criteria, has only just begun and it has not yet reached a degree of maturity. One of the inherent elements of the NFT universe, due to its unique nature, is the FOMO, the desire to get something scarce, with the risks that this can entail in minors.

“Anything we see in our store that we think is exploitative will be something we would take action on,” Spencer adds. “We don’t want that kind of content”, He emphasizes. Therefore, he does not give a resounding no to NFTs, but to that specific type of use of them.

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Big companies like Electronic Arts, Take-Two and Ubisoft They have already given their opinions on non-fungible tokens in their most recent financial results presentations. Addressing its shareholders in most cases, the general opinion is that it may be “the future of the industry.”

Source | Axios


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