On Aug. 25, Spencer told Bloomberg anchor Emily Chang that, although many players are not yet sold on the current concept of digital space, they have largely been playing in Metaverse worlds for decades:

"In my opinion, gamers have been in the Metaverse for 30 years." Everyone is in a shared world when you play games, whether it's a World of Warcraft game, Roblox, or a racing game."

In Spencer's opinion, the Metaverse is essentially a "3D shared world" wherein people can freely communicate and interact in shared experiences and goals.

"It's not surprising to me that players might look at it and think, well, I don't really get it because we have an avatar of ourselves, and I can already go into a shared world and have voice conversations with individuals anywhere," he explained.

Spencer's sentiments are similar to those of Microsoft CEO Satya Nadella, who told Bloomberg in November that people might "absolutely expect" the company to make moves in gaming.

"If you think of Halo as a video game, it's a Metaverse." Flight Sim is a Metaverse, as is Minecraft. In some ways, they're 2D today, and the question is whether you can now take that to a fully 3D world, which we absolutely intend to do."

On the other hand, Spencer did not address more contentious issues, such as the concept of possessing virtual assets through NFTs. Due to an apparent lack of utility and scarcity, crypto proponent and billionaire investor Mark Cuban lately smashed virtual property investment as "the dumbest s—- ever."

Instead, the Xbox head said that commercial use of the digital space has recently piqued the interest of Microsoft and CEO Nadella.

"However, I believe that our skills as game designers and creators make a lot of sense in many enterprise experiences." "And this is why Satya is so enthusiastic about it," he explained

Cautious about P2E

However, the Xbox CEO spoke more cautiously about blockchain-based P2E games.

While Spencer acknowledges that game monetization has existed for a while, he is concerned about games being mainly built around "menial tasks" to earn digital currency.

"I'm wary of play-to-earn. It creates a labor force for certain players to monetize."

"You can now find games beginning to incorporate that into the game's economy." We made a few remarks in Minecraft about how we view NFTs in this space since we were doing things in our product that we thought were exploitative — we said we didn't want that," he added.

He did not entirely dismiss the idea of play-to-earn, noting that it could lead to some interesting use cases.

"I think when these technologies emerge, it's like a hammer searching for a nail. But I believe there could be some interesting things in the actual human use — or player use, in our case — of these technologies," he said.

Aug 26, 2022
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