Microsoft plans crypto wallet integration in its Xbox gaming console but there is a catch
A leaked document showed that Microsoft was planning to jump into the crypto-related business via its gaming business services.
Xbox is a video gaming brand created and owned by giant computer software company Microsoft. In 2001, Microsoft introduced its Xbox to compete against the PlayStation device, a gaming-focused device by Sony Computer Entertainment that doesn’t require a computer or laptop. As per available historical information, Microsoft launched Xbox because Microsoft officials thought PlayStation-like products were a threat to personal computer adoption.
On 19 Sep 2023, A user on the gaming forum ResetEra shared an Xbox roadmap for May 2022 including crypto wallet support. Notably, there was no detailed or precise information on this thing.
According to Phil Spencer, the head of Xbox, the document leaked because of Microsoft’s legal hurdles following the Federal Trade Commission’s (FTC) legal action. Indeed FTC opposed the $69 million Activision Blizzard acquisition and with that these documents unintentionally leaked within their submissions.
However, Spencer confirmed that the company brought several changes in its roadmap but the majority of the crypto proponents are expecting that they are still probably tied with crypto wallet support plans.
Tyler Winklevoss, co-founder of Gemini, also shared his opinion on Microsoft’s leaked documents and confirmed that he is also optimistic because of the potential of Crypto.
It is worth it to note that Microsoft’s Minecraft & Mojang recently issued new guidelines for the fan-operated servers and ordered all the Bitcoin or any other crypto-related paid activities away. In short, here we can consider that Microsoft has no plans to enter the crypto sector and it may be because of the unclear crypto regulatory environment in the US.
Read also: Meta (formerly Facebook) will organize an event called MetaConnect: AI & Crypto tokens
