Phil Spencer thinks NFTs could be "speculation and experimentation"

Phil Spencer thinks NFTs could be “speculation and experimentation”

Non-fungible tokens, better known as NFTs, have been one of the hottest topics lately, with numerous groups making arguments for and against expanding their presence in different markets. Now, in an interview with Axios, Phil Spencer has delved into his thoughts on the matter.

And it is that the CEO of Xbox ensures that, as we are already seeing with the case of some streamers, it is very likely that the NFT will also end up reaching other segments such as video games. Something about which, although Spencer himself is not very in favor, he explains:

“ What I would say today about NFTs is that I think there is a lot of speculation and experimentation and that some of the creatives I see seem more speculation than entertainment […] I don’t think it is necessary for all NFT games to be speculation. I think we are in that group of people who are discovering it. Anything that we look at in our store and think of as speculation would be something that, you know, we would take action on. We don’t want that kind of content on Xbox, “shared Spencer.

However, although Spencer’s opinion is postulated as the opposite, it is important to note that it focuses on the current state of NFTs in games, suggesting that after greater regulation or control of them we could end up seeing Microsoft enter this area. In fact, this is not the only company in the industry that has run on NFTs, although Valve seems to share a similar mindset to Microsoft, with the recent ban on all blockchain-based games on Steam.

Meanwhile, others such as Ubisoft, Electronic Arts, or Epic Games are in favor of experimenting with them, and we have even seen other attempts such as Discord, frustrated in this case by the great rejection of the community. So it remains to be seen how the plans of the aforementioned companies will materialize and evolve in this particular domain over time.