• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Crypto.com Logo Crypto.com Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Win 1 BTC
Breaking News: The Sandbox Seals Deal With Saudi Arabian Digital Government Authority
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Win 1 BTC
Bitcoinist.com
No Result
View All Result
Breaking News: The Sandbox Seals Deal With Saudi Arabian Digital Government Authority
NFT
Advertisement

Will Xbox Keep Out NFT Projects? Phil Spencer Says Some Seem “Exploitive”

Julia Arvelaiz by Julia Arvelaiz
1 year ago
in NFT
0
Advertisement

Phil Spencer, Microsoft’s executive vice president of gaming, shared his skepticism around some NFT gaming projects as he feels the entertaining side of games is being compromised by the use of the new possibilities the blockchain brings for them.

During an Axios interview, the tension around the blockchain adoption by the gaming industry seemed to have risen once more when the Xbox chief shared his view around some NFT projects. As Xbox is an online marketplace giant of the gaming industry, his views are important and influential for the future landscape of blockchain-based games. Spencer commented:

Don't wait! Jump on this Crypto Deal and get a 150% Welcome Bonus plus 100 Free Spins on your deposit today!

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,

The bright side for NFT games enthusiasts is that the Xbox chief is not directly rejecting NFTs. In fact, he did not show opposition to the technology or its features by themselves. It is the way companies are making use of it what seems to push him away.

Related Reading | Polygon Sets Up $100 Million Fund For NFT Gaming Projects

What Makes The Gaming Industry Succesful

In the research study Creativity In The Video Game Industry by Peter Zackariasson and Timothy L. Wilson, they explain that “Throughout the growth of this industry creativity has been the core competence in making successful and profitable video games.”

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
570% up to 12 BTC + 300 Free Spins for new players & 1 BTC in bonuses every day, only at Wild.io. Play Now!
Creativity in the video game industry is present throughout the entire structure. (…) it drives the industry, creating endless opportunities, at the same time as it creates great pressure. (…) technical logics and perfection may not have that much to do with successful video games. One has to look at it from artistic and creative perspectives in most parts of the process of developing and publishing a video game.

Related Reading | Could Gaming Be The Key To Cryptocurrency Mass Adoption?

This is an interesting approach, as we are used to thinking about big industries as groups of entities moved mostly by money. Of course, the gaming industry also cares –dearly– about profit, but the quality of the creativeness portrayed is behind a big part of their revenue.

Some of the things that NFTs can do for games are allowing gamers to customize in-game identities, items, avatars, etc; leading them to use their own creativity to maximize worlds inside the games –like Warcraft and Minecraft do–; allowing skins to be transferable amongst games.

From that perspective, NFT games seem to match perfectly the gaming industry’s growth model and partially explains the blockchain-based gaming success. But we also need to factor in the features that involve profit, also a big part of the craze.

NFT gaming: Playing For Money

One of the most popular examples this year is Axie Infinity, which had gained a total of $2.59 billion in NFT sales by October. The game can be downloaded for free and players can make investments to generate profit. Online battle-arena is one of the infamous features, also used in other NFT games.

However, last month, Steam, the largest distributor of PC gaming software, pulled the rug on NFT games when they banned items that could have real-world value: blockchain games, crypto assets, NFT collectibles. Thus the tension around other big platforms following their steps.

Now, Spencer seems to suggest that, as the NFT gaming world is still young, it is common for some projects to showcase “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.

A line is being drawn between gaming and work. It is a possibility for Xbox to remain skeptical around non-fungible token projects and not opt for integrating blockchain features at the moment. But for now, their stance is not completely clear.

Crypto total market cap at $2,5 trillion in the daily chart | Source: TradingView
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.

Julia Arvelaiz

Julia Arvelaiz

Related Posts

The Sandbox Seals Deal With Saudi Arabian Digital Government Authority

The Sandbox Seals Deal With Saudi Arabian Digital Government Authority

6 hours ago
Check

How Checks VV Drove The Latest ‘Open Edition’ NFT Meta

1 day ago
Squiggles

One Year Later: Federal Investigators Eyeing Squiggles NFT Creators For Wire Fraud & Money Laundering

5 days ago
NFT

Here’s Why The NFT Landscape May Have Changed For Better During Bear Market

6 days ago
NFTs Professionals Reveal Ways To Prevent NFT Thefts

How You Can Prevent Hackers From Stealing Your NFTs

6 days ago
Dookey Dash

Could Yuga Labs’ Dookey Dash Revive The GameFi Hype?

1 week ago
Please login to join discussion

Premium Partners

Premium Casino Partners

Top Casinos

BitStarz
BitStarz
Punt Casino
Punt Casino
mBit
mBit
Metaspins
Metaspins
1xBit
1xBit
Coinplay
Coinplay
K8
K8
Vegas Casino
Vegas Casino

Sportbooks

Coinplay
Coinplay

Press Releases

  • ALTCOIN DAILY TO PRODUCE AND STAR IN NEW “SHARK TANK OF...

    14 hours ago
  • SinVerse Studios Announces $1 Million Buyback Program for...

    15 hours ago
  • Join the Revolution: Invest in STARSTAKING for 25% APY and...

    15 hours ago
  • The Crypto Bull Market Trend Has Started! What Does This...

    15 hours ago
  • Orbeon Protocol (ORBN) Grows 1625% During the Presale...

    16 hours ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
  • Crypto Prices from Nomics
© 2023 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Win 1 BTC

© 2022 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.