Xbox Chief Phil Spencer Feels NFTs Are ‘Exploitive’

Xbox Chief Phil Spencer has said that he feels NFTs are “more exploitive than about entertainment.” Do you agree?

With so many major publishers and developers jumping on the NFT bandwagon, many have been wondering if industry giant Microsoft will jump on board too. So when Phil Spencer was chatting to, NFTs were a topic of discussion.

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,” said Spencer.

But did Spencer rule out NFTs?

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,” added the Xbox chief. “We don’t want that kind of content.

microsoft logo
Credit: Microsoft

It would be easy for Microsoft to jump on the NFT hype train and make a lot of easy money. Microsoft is a giant in the video game industry, as well as a leading figure in PC, software, and accessories.

Would you buy an NFT?

It’s also worth considering that while Spencer labelled the current method of NFTs as “exploitive” he didn’t outright say that Microsoft won’t get some of that pie. Perhaps MS might get some of that action and if they do, it will be interesting to see how it might be approached.

Xbox consoles side by side
Credit: Microsoft

For me personally, I find NFTs as pointless as buying a certificate claiming that you own a star. Do you believe NFTs are exploitive and do you think Xbox will get aboard the bandwagon? Let us know your thoughts across our social media channels.

Do not forget you can find great games and more on the GameByte Shop! We’ve stocked up the store with the latest games, merch, and accessories. We might even have a new-gen console or two! Sign up to our newsletter to be notified of our console drops, deals and more. Please note that the GameByte Shop is available for UK customers only.

Featured Image Credit: Microsoft