Xbox CEO Eager for Metaverse, But Wary of P2E Games

The CEO of the gaming business of Microsoft, Xbox, Phil Spencer, is enthusiastic about the Metaverse but is “cautious” about play-to-earn (P2E) cryptocurrency games owing to their speculative and economic elements. While many gamers are not yet convinced by the idea of a metaverse, according to Spencer, they have been playing in metaverse worlds for decades. Xbox CEO made this claim in an interview on Thursday. “My view on Metaverse is that gamers have been in the Metaverse for 30 years. When you’re playing games, if you’re playing a World of Warcraft game, you’re playing in Roblox, you’re playing in a racing game where everybody’s in a shared world.” According to Spencer, the Metaverse is essentially a “3D shared environment” where individuals are free to interact with one another, exchange experiences, and pursue shared goals. Xbox CEO And Microsoft CEO Think Alike Phil Spencer shares the same views as Microsoft CEO Satya Nadella, who highlighted the following after telling news sources in November that consumers could “absolutely expect” the company to enter into Metaverse gaming. “If you take Halo as a game, it is a Metaverse. Minecraft is a Metaverse, and so is Flight Sim. In some sense, they’re 2D today, and the question is, can you now take that to a fully 3D world, and we absolutely plan to do so.” Crypto proponent and billionaire investor Mark Cuban has called virtual property investments “the stupidest s—-ever.” Conc...