Xbox & NFTs

Regarding NFTs, Phil Spencer, Microsoft’s head of gaming, told Axios, “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.”

In practice, some “play to earn” NFT games are a bit exploitive. There’s a lot of in-game purchasing and trading of virtual stuff. That said, Microsoft has a massive gaming marketplace. Many of the most popular games already have in-game virtual currencies that could easily find their way to DeFi marketplaces. And, of course, Microsoft could leverage its position in the gaming industry to dramatically amplify the value of any NFT project. However, decentralized financial models that reward users (as opposed to a central authority such as Microsoft) don’t lend themselves to the financial structure of publicly traded companies (such as Microsoft). Hummm…

Author’s note: This is not a sponsored post. I am the author of this article and it expresses my own opinions. I am not, nor is my company, receiving compensation for it.

About Shelly Palmer

Shelly Palmer is the Professor of Advanced Media in Residence at Syracuse University’s S.I. Newhouse School of Public Communications and the CEO of The Palmer Group, a consulting practice that helps Fortune 500 companies with technology, media and marketing. Named LinkedIn’s “Top Voice in Technology,” he covers tech and business for Good Day New York, writes a weekly column for Adweek, and is a regular commentator on CNN and CNBC and writes a popular daily business blog. He’s the Co-Host of the award-winning podcast Techstream with Shelly Palmer & Seth Everett and he hosts the Shelly Palmer #CryptoWednesday Livestream. Follow @shellypalmer or visit shellypalmer.com.

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