Xbox Gaming Head Believes There’s A Lot Of Speculation Around NFTs

As the NFTs hype is alive and keeps being a trending topic across the cryptocurrency sphere, some mainstream voices remain skeptical towards this industry.

During an interview with Axios, Phil Spencer, Head of Gaming at Microsoft, said that there are just speculation and experimentation around non-fungible tokens.

“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,” he commented. Still, his words cannot be considered at all as a straight negative stance towards NFTs.

Not Skeptical At All

Spencer pointed out that not all games need to exploit the NFT front, as there could be just noise and nothing of added value with such a relatively brand-new industry. “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,” he added.

His words still have a considerable weight within the gaming industry, given that he’s in charge of the main core department of one of the biggest game console operating systems in the world in terms of the global market share.

Moreover, more and more sectors in the entertainment side are joining the NFT frenzy, such as sports and music, among others.

Tokenized Play-To-Earn Games On Fire

Also, play-to-earn games are gaining popularity across the crypto community due to their scheme of rewarding players with tokens created by the projects behind such videogames.

It led to a boost of the sector and helped accelerate the creation of more coins that aim to provide gamers with governance.

NFTs remain as a multi-billion dollar market, with expectations to keep skyrocketing further in the years ahead, according to media outlets like Bloomberg. Recently, it was known that Google Trends highlighted that the “nft” and “non-fungible tokens” terms hit a new all-time high on searches queries.