Phil Spencer, head of the gaming division at IT giant Microsoft, is reportedly cautious about introducing Non-Fungible Tokens (NFTs) to his games. Spencer’s remarks came forward during an interview with Axios, where he talked about the ‘exploitative’ nature of NFTs, and how he is not ready to nosedive into the industry just yet.
“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.”
Spencer is the head executive of Xbox, a video gaming brand under Microsoft. While many gaming companies such as Ubisoft and EA have entered the NFT scene, the Xbox head plans to remain cautious of it.
“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,” Spencer remarked in the interview. He said:
“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. I think anything that we looked at in our storefront that we said is exploitive would be something that we would, you know, take action on. We don’t want that kind of content.”
While Spencer is not ready to embrace NFTs just yet, Xbox’s parent company Microsoft recently announced plans to integrate metaverse into its communication platform ‘Teams’. Additionally, the company’s CEO, Satya Nadella, also told Bloomberg TV that it will also focus on developing a game-type metaverse for Xbox.