News - Will the next Xbox support crypto?

By Sam Fröling

Will the next Xbox support crypto?

Will the next Xbox, support crypto?

58 million players, hundreds of games and perhaps soon: crypto. These are the plans of Xbox and its competitors, from Playstation to "Fifa."

58 million players worldwide, a catalog of hundreds of games and soon: cryptocurrencies? That appears to have been leaked recently. According to Forbes, Microsoft apparently plans to deliver the next Xbox with support for Bitcoin and other cryptocurrencies. The leaks were revealed in the course of a lawsuit. Still, they should be taken with a grain of salt. Xbox CEO Phil Spencer stated on Twitter:

"It is difficult to share our team's work in this way because so much has changed and there is so much to be excited about, now and in the future. We will share the real plans when we are ready."

Phil Spencer, on X

Microsoft and blockchain, a difficult phenomenon so far: Bill Gates has nothing to do with cryptocurrencies, other than being skeptical about them. And Phil Spencer has also been very cautious about crypto in the past. Playing to earn and NFTs? For him always and to this day: above all speculation and exploitation. This puts him on par with the bulk of the industry: Minecraft recently banned Bitcoin mining in the game. Some developers signed a petition against NFTs. At Ubisoft, they went to the barricades against their bosses' plans ("crappy Management"). Those who sow crypto plans usually reap: colossal bullshitstorms from all sides of the industry.

But there are signs of a cautious change. Electronic Arts reportedly wants to integrate NFTs into its sports games ("Fifa"). Zynga ("Farmville") is working on a Web3 mobile game. Sony ("Playstation") is working on its own blockchain, calling it the "foundation for the digital future."

Square Enix goes all out for crypto

And Square Enix, one of the largest video game companies in the world (including "Kingdom of Hearts" and "Final Fantasy") has been converting its business model to blockchain, metaverse and NFTs for months. They have sold nearly 50 million euros for this purpose. To that end, they sold nearly 50 game brands last year, including the legendary "Tomb Raider." A Web3 gaming platform and the first blockchain games will be released in 2024.

If Microsoft actually made the move, it would be a huge signal to the industry and a tribute to crypto. Phil Spencer's reaction to the leaks suggests that plans on the subject could still change or have already changed in the meantime. The next-generation Xbox is not expected until 2028.

Whether Bitcoin, NFTs and other cryptocurrencies will then be found on it depends on whether the competition succeeds in increasing the acceptance of crypto in gaming. And thus on the question: does the technology only serve speculation and enrichment or does it actually promote fun? So far, the evidence is lacking.

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