Leading play-to-earn games like Axie Infinity have garnered immense popularity in the crypto world, but according to Xbox head Phil Spencer, these games should be treated with an air of caution and vigilance.
In an interview with Bloomberg, Spencer shared his opinions on the emerging play-to-earn gaming concept. He noted that although the concept looks promising, the users must practice caution while delving into such eccentric projects.
Free Play-to-earn games have emerged as one of the most profitable crypto products, capable of attracting millions of users.
Phil Spencer on Play-to-Earn
Speaking to Bloomberg, Phil Spencer shared his opinions on the play-to-earn gaming format and the metaverse, adding that the concept isn't entirely fresh.
Spencer said that gaming enthusiasts have been practically living in virtual format setups for ages, but the question of integrating play-to-earn directly into the space is something that must propel a user to be cautious about it.
"Play-to-earn specifically is something I am cautious about," he said. "It creates a workforce out of players for certain players to monetise."
However, Spencer did note that this already exists in the games industry, just in a different format. He said:
There have been gold farmers, people who literally just spend their time doing some menial task in a game to accrue some currency that they can then sell to some other rich player for real money, so that person doesn't have to spend their time. But now you find games that are starting to build that into the economy of the game itself.
However, Spencer later added that he doesn't particularly dismiss or deny the usage of the metaverse technology.
Similarly, Spencer later shared that even though he is cautious about the P2E format, the Xbox head does not particularly fully reject the idea as there could be some interesting things that could be borne out of such emerging formats.
"I think sometimes it's a hammer looking for a nail when these technologies come up. But the actual human use, or player use in our case, of these technologies, I think there could be some interesting things," Spencer added.
Spencer's views on NFTs and P2E echo the stance of the former Nintendo of America Reggie Fils-Aime. Fils-Aime stated that the blockchain and NFT technology "isn't completely proven or sorted yet," and that these technologies possess a unique substance and value in them.