Phil Spencer, CEO of Xbox, Is Doubtful About The Metaverse And Critical Of Play-To-Earn Business Models – Bitcoin And The Metaverse News

The head of the Xbox brand, Phil Spencer, feels that the metaverse has existed since the widespread introduction of digital gaming 30 years ago. However, Spencer attacked play-to-earn (P2E) models, arguing that they create a workforce comprised of gamers who must commercialize their time spent playing.

Phil Spencer, CEO of Xbox, believes that the Metaverse has existed for a while.

Current concepts of the metaverse have been the topic of discussion and criticism. Phil Spencer, the current leader of the Xbox brand and chief executive officer of Microsoft’s gaming division, expressed skepticism over the current presentation of the metaverse, an alternate universe. Spencer noted in an interview with Bloomberg that the metaverse is not new and is similar to what gamers have been doing for years. In addition, he highlighted that players may be confused by the concept of the metaverse because having an avatar in a game and being a part of a virtual environment with voice communication capabilities might be regarded inhabiting it.
Despite Spencer’s personal skepticism regarding the metaverse, Microsoft and the Xbox brand have employed the term frequently at various times. Microsoft announced in January, upon announcing the acquisition of Activision Blizzard for about $69 billion, that it will “accelerate the expansion of Microsoft’s gaming business across mobile, PC, console, and cloud and offer the building blocks for the metaverse.”

Play-for-Profit Criticism

While other businesses in the industry have been more receptive to play-to-earn (P2E) models and their underlying mechanisms, Spencer has showed reluctance about this new trend. In the interview, the head of Xbox attacked the purpose of play-to-earn games, stating that there may be “interesting things” in the future application of these technologies. The technology, which has gained some traction with blockchain games such as Axie Infinity, has not yet reached consoles such as the Xbox or the Sony Playstation 5.