Microsoft Is Considering the Addition of a Cryptocurrency Wallet to the Xbox

Microsoft Xbox

In recent days, an official rumor has surfaced suggesting that Microsoft could add a cryptocurrency wallet to its Xbox platform. While this is still unconfirmed, the source of this information is reputable, warranting severe consideration.

The story behind this rumor traces back to the US Federal Trade Commission’s lawsuit against Microsoft regarding its acquisition of Activision Blizzard. As part of this legal battle, Microsoft inadvertently disclosed a roadmap outlining its medium-term plans for the Xbox. This document, posted on the ResetEra online gaming forum, was dated May 2022 and notably included plans for integrating a crypto wallet.

It’s crucial to note that this intention was documented before significant events, such as the Terra/Luna ecosystem’s troubles and the failures of Celsius, BlockFi, and FTX, which reshaped the crypto landscape. Therefore, whether Microsoft intends to proceed with the crypto wallet integration remains uncertain.

Microsoft Xbox

Microsoft has displayed an ongoing interest in the crypto realm for several years. This interest manifested through collaborations like Starbucks tracking products on the blockchain with Microsoft’s involvement in 2020 and Microsoft’s foray into the metaverse with Xbox in 2021. Furthermore, in 2022, Microsoft published an article about an Azure solution for NFTs on its official website, indicating its deeper involvement in crypto technology, which may have begun as early as 2018.

Given these factors, the prospect of incorporating a crypto wallet into Xbox appears highly plausible, especially considering the immense potential for gaming platforms in the metaverse and NFT space.

Xbox is a prominent player in the digital gaming console market, with millions of units sold over the years and various iterations launched since its inception in 2001. It has expanded into a brand encompassing consoles, applications, streaming services, and online services. Integrating a crypto wallet into the next Xbox, scheduled for release at the end of the following year, could introduce millions of users to cryptocurrencies and NFTs, considering the fees associated with NFT transfers.

While the confirmation of this integration may only come when the new console is launched, the buzz surrounding it could prompt Microsoft to reveal official information well before 2024’s end. It seems plausible, if not expected, for Microsoft to incorporate a crypto wallet into its next Xbox, potentially collecting transaction fees and delivering competitive gaming experiences in the blockchain-powered metaverse.

For now, we can only await official confirmation or denial of this exciting development.

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Chi Do
Chi Do
Chi Do is a content writer at CoinMinutes, responsible for creating most of the content on the website, including news related to Bitcoin (BTC), Ethereum (ETH), Blockchain, Decentralized Finance (DeFi), and more. With a keen interest in cryptocurrencies since the 2020s, Chi has acquired extensive experience and knowledge in this field. Chi holds a Bachelor's degree in communication from Academy of Journalism and Communication in Vietnam.

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