Xbox head Phil Spencer is skeptical about NFTs in video games

cointelegraph.com:

Phil Spencer, Microsoft’s head of gaming, commented on his skepticism towards nonfungible tokens, or NFTs, in an interview with Axios:

As head executive of Microsoft's Xbox division, Spencer’s words carry weight. Xbox is the game console operating system with the second-largest global market share behind only PlayStation. This gives Xbox a lot of power over the acceptance or rejection of NFT projects into the gaming ecosystem.

Spencer added that he is not completely against all NFTs, clarifying that he doesn’t think that “every NFT game is exploitative. I just think we're kind of in that journey of people figuring it out.”

Although the earliest NFT can be traced to 2014-15, it wasn’t until this year that the market’s valuation skyrocketed into