Xbox Head Spencer Is Skeptical Of NFTs

Phil Spencer, Head of Microsoft's Xbox department, is skeptical of NFTs. Spencer says NFTs make you feel exploited.

Phil Spencer expressed his skepticism towards NFTs in an interview the other day. Spencer stated the following on the subject: "What I feel about NFTs is that there's been a lot of experimentation and speculation. The commercials I'm witnessing today feel more exploitative than entertainment." These thoughts of Phil Spencer are very important because he is the head of the Xbox department. When we take a look at Xbox's market share, we can see that PlayStation is following it. This gives Xbox a significant boost in incorporating NFT projects into the game ecosystem. Phil Spencer emphasizes that he is not completely against NFTs and says: "It seems to me that not every NFT project follows the exploitation policy." As it is known, the history of the oldest NFT products dates back to 2014-2015. The NFT industry has become popular in such a short time and has become a multi-million-dollar industry. In the gaming field, NFTs seem to become even more popular thanks to blockchain-based games. With a relatively new solution called GameFi, companies plan to reward players based on the time they spend playing games. However, this sector is getting stronger day by day with the investments it has received.