As Play-to-Earn (P2E) games continue to gain momentum, the media are curious to hear what “traditional” video game heavyweights think about the concept. Bloomberg asked Xbox boss Phil Spencer about the issue. And it looks like Microsoft Gaming’s CEO is a bit skeptical.
Play-to-earn (P2E): Speculative nature as a negative point
It was at the microphone of Emily Chang during an interview with Bloomberg that the Xbox boss spoke about the various current aspects and the future of video games. During this interview, the journalist raised the issue of Play-to-Earn games. Phil Spencer has clearly expressed reservations. It is mainly the speculative nature of crypto games that bothers him.
Phil Spencer says he wants to be cautious about a concept that monetizes player talent. From his point of view, this lessens the entertainment side and turns the gamers more into the workforce so to speak. And seen from this angle, it is not very focused on the P2E. Still, he acknowledges that playing to earn crypto can have other interesting use cases. In other words, Microsoft is not completely ruling out the idea of surfing blockchain technology and NFTs.
What future for crypto games?
The landscape of video games continues to evolve with technological advances. In the early 2000s, the transition from dial-up to high-speed Internet completely transformed gaming. Gamers were able to move beyond their living rooms with online multiplayer games and video streaming. And then there were smartphones which also opened up other opportunities. Thanks to blockchain technology, cryptos and NFTvideo games are bringing about a new revolution.
Experts recognize that Play-to-Earn (P2E) gaming is a very rapidly evolving space. There are many interesting innovations. Nevertheless, the games offered still lack creativity and remain too repetitive, not to mention the structural imperfections. At this level, there is still a lot to do. But the underlying technologies used have enormous potential. Beyond the game, users are motivated by winning.
If Phil Spencer has reservations about Play-to-Earn games, he is much more optimistic about the Metaverse. Moreover, he says that players have already been evolving in this virtual universe for thirty years. He explains : ” If you take Halo as a game, it’s a Metaverse. Minecraft is a Metaverse, just like Flight Sim. In a sense they are 2D today and the question is can we now turn this into a fully 3D world, and we are absolutely planning on doing that “.
While companies across industries are still imagining the business possibilities offered by the Metaverse, traditional video game bosses are already seeing potential for growth. The video game industry recognizes that this technology creates opportunities for new business models. The Metaverse also has the ability to build closer relationships between brands and users.
Clearly Spencer isn’t ruling out the concept of using NFTs in the future of the Xbox. But he is cautious. He is in a “Wait and see” position before possibly jumping on the crypto-culture bandwagon.
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Play-to-Earn (P2E): What the big names in video games think
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