As Play-to-Earn (P2E) games continue to evolve, the media is interested in hearing what the “traditional” video game heavyweights think about the concept. Bloomberg asked Xbox boss Phil Spencer about the issue. And it seems Microsoft Gaming’s CEO is a bit skeptical.
Play-to-earn (P2E): Speculative behavior as a negative point
It was at the microphone of Emily Chang in an interview with Bloomberg that the Xbox boss spoke about various current aspects and the future of video games. During this interview, the reporter raised the issue of Play-to-Earn games. Phil Spencer clearly expressed reservations. It’s mainly the speculative nature of crypto games that bothers him.
Phil Spencer says he wants to be careful about a concept that monetizes player talent. From his point of view, it reduces the fun part and turns the players into more workers so to speak. And look from this angle, it’s not so focused on P2E. However, he acknowledges that playing to earn crypto may have other interesting use cases. In other words, Microsoft has not completely rejected the idea of surfing the blockchain and NFT technology.
What future for crypto games?
The landscape of video games continues to evolve with the advancement of technology. In the early 2000s, the transition from dial-up to high-speed Internet completely changed the game. Gamers are able to move beyond their living rooms with online multiplayer games and video streaming. And then there are smartphones that open up other opportunities as well. Thanks to blockchain technology, cryptos and NFTs, video games are moving into a new revolution.
Experts recognize that the Play-to-Earn (P2E) game is a very fast-growing space. There are many interesting innovations. However, the games on offer still lack creativity and remain repetitive, not to mention structural imperfections. At this level, there is still much to do. But the underlying technologies used have great potential. Apart from the game, users are motivated by winning.
If Phil Spencer has reservations about Play-to-Earn games, he’s more optimistic about Metaverse. In addition, he says that players have been developing in this virtual universe for thirty years. He explained: ” If you take Halo as a game, it’s a Metaverse. Minecraft is a Metaverse, like Flight Sim. In a sense they are 2D now and the question is can we make it a full 3D world, and we absolutely plan to do that. “.
While companies across the industry are still imagining the business possibilities the Metaverse offers, traditional video game bosses are already seeing potential for growth. The video game industry recognizes that this technology creates opportunities for new business models. Metaverse also has the ability to create a closer relationship between brands and users.
Clearly, Spencer doesn’t rule out the concept of NFTs being used in the Xbox future. But he was careful. He is in a “Wait and see” position before possibly jumping on the crypto-culture bandwagon.
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