According to leaked documents, Microsoft is reportedly planning to integrate a cryptocurrency wallet into its popular Xbox console. The leaked documents, which included an Xbox roadmap dating back to May 2022, revealed the tech giant’s intentions to incorporate a crypto wallet into the upcoming console version.
This leak is considered the “largest in Xbox history” due to the rarity of unredacted emails becoming public. Xbox head, Phil Spencer, addressed the leak in an email to Microsoft staff, acknowledging that the plans were inadvertently revealed as part of the FTC v. Microsoft case.
The convergence of the gaming industry and cryptocurrencies has garnered excitement among market analysts. Gemini exchange co-founder, Tyler Winklevoss, referred to crypto as “gamer money” and highlighted the significant size of the gaming industry, surpassing the music and Hollywood industries combined.
The gaming industry and cryptocurrencies share a natural alliance, with benefits such as exchange value, earnings rewards, and more in online gaming. Michael Silberberg, AltTabCapital’s Head of Investor Relations, emphasized the close relationship between digital assets and gaming, which extends beyond a single segment of the gaming ecosystem.
In-game microtransactions contribute to nearly half of the global gaming revenue, highlighting the financial significance of the gaming industry. Microsoft’s integration of cross-chain wallets in Xbox paves the way for the next generation of game developers to empower players to create and preserve tangible value within in-game universes.
This integration facilitates genuine ownership of Bitcoin, digital assets, decentralized player-driven markets, and reduces instances of digital economy fraud. Additionally, Microsoft’s recent partnership with Aptos Lab aims to bridge the gap between AI and Web3, further showcasing the tech giant’s commitment to exploring the potential of blockchain technology.