Non-fungible tokens, or NFTs, have gained prominence online. There is a whole community of NFT enthusiasts out there, but some are wary of the new technology. Xbox’s Phil Spencer believes they’re more exploitative than creative right now.
In one (n Interview with Axiossays Spencer that he is wary of how NFTs are currently considered in games. “What I would say about NFT today is that I think there is a lot of speculation and experimentation and that some of the creative people I see today feel more exploitative than entertainment,” said Spencer.
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Spencer also made it clear that he doesn’t consider every single NFT game to be exploitative, but that the room is still new and people are on a journey to find out. He also understands that the early controversy surrounding NFTs in games isn’t exactly an aspect you want on the Xbox Store.
“I think anything we look at in our business that we say is exploitative would be something we’d take action against,” added Spencer. “We don’t want such content.”
NFTs have taken the world by storm and have already crept into the gaming ecosystem. Last month, Steam released a policy banning all games that use blockchain technology that allows NFTs and cryptocurrencies, while Epic Games accepted them because they follow relevant laws.
Big publishers like EA and Ubisoft have decided to welcome NFTs as well. EA believes NFT technology will play an important role in the future of gaming while Ubisoft plans to develop blockchain games.
George Yang is a freelance writer for IGN. You can follow him on Twitter @yinyangfooey