Xbox Boss Phil Spencer is anti-NFT and finds them ‘exploitive’ in current state

Crypto and NFTs have been seeping into the mainstream more and more rapidly ever since the whole pandemic happened. With NFTs being embraced by more and more markets, obviously the thought comes up if Microsoft and Xbox are planning on leveraging the technology in the future.

In an interview with Axios, Spencer stated that he is a bit hesitant regarding NFT adoption as it currently feels “exploitive’ and less about “entertainment”.

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,

This clearly does not mean that NFTs and Xbox won’t be a thing ever, but how the “creative” is currently kind of “undercooked”. As someone who’s been trading Crypto and dabbled in NFTs recently, this is nothing but the truth.

The NFTs available right now on the market don’t have as much utility as the technology has potential to offer. So Spencer does leave the door open for future opportunities.

I don’t think it necessitates that every NFT game is exploitive,

I just think we’re kind of in that journey of people figuring it out. And I can understand that early on you see a lot of things that probably are not things you want to have in your store.

There’s also the fact that NFTs in their current state have a huge environment impact due to them being on the Ethereum blockchain and Ethereum in its current state being an unoptimized mess. Other blockchains like Polygon do this much better at a much lower environmental impact, so it’ll be interesting to see how NFTs evolve in the future.

Danial Arshad Khan

Founder of GearNuke.
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