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    The head of Xbox, Phil Spencer is feeling dubious about NFTs appearance in video games

    The head of Xbox, Phil Spencer is feeling dubious about NFTs appearance in video games

     

    After the appearance of NFTs, the video game world and blockchain technology has become closer than ever, and the gap is continuing to become smaller every day. But the head of the gaming department, Phil Spencer thinks that NFTs can be more exploitative than offering entertainment.  

     

    In a recent interview with Axios, Phil Spencer addresses that NFTs are sceptical and lots of experiments are being done but right now, the results are showing that NFTs are more credulous. Nevertheless, his words do carry some weight. After all, he is the head of the second biggest market holding company when it comes to video games. Whether NFTs would be adapted in the Xbox gaming ecosystem will be decided in the future. 

     

    Spencer added that he is not against all of the NFT projects, he feels that some of them are exploitative. Blockchain system has significantly changed the whole gaming industry paving the path for the play to earn system and attracting new challengers on the way. It has been successful in blending finance with games creating something like GameFi. And NFT has now become a multi-billion dollar industry hitting the 10 billion dollar mark in the third quarter of this year. 

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