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Xbox Wallet: A Potential Game Changer

October 10, 2023

Leaked internal Microsoft documents posted to the Resetera gaming forum, showed an Xbox roadmap from May 2022 that includes support for crypto wallets. The massive leak was blamed on documents related to the Federal Trade Commission's lawsuit to block Microsoft's $69 billion bid for Activision Blizzard being uploaded before being redacted.

We can speculate on some potential reasons why a company like Microsoft might consider such a move, though it's important to note that this is purely speculative and not based on any official information:

Expanding Payment Options: Adding a cryptocurrency wallet to the Xbox could provide users with an additional payment option for purchasing games, subscriptions, and in-game content. This could appeal to a segment of users who prefer to use cryptocurrencies for their transactions.
Attracting Crypto Enthusiasts: Cryptocurrency has gained popularity among a tech-savvy audience. Integrating a crypto wallet could help Microsoft attract and retain users who are actively involved in the crypto space.
Future-Proofing: Cryptocurrencies and blockchain technology are continuously evolving. By adding a crypto wallet, Microsoft could position the Xbox as a forward-looking platform that's ready to adapt to emerging trends in digital finance and gaming.
NFTs and Virtual Assets: Non-fungible tokens (NFTs) have gained attention in the gaming industry as a way to represent ownership of digital assets like in-game items and skins. A crypto wallet could facilitate the buying, selling, and trading of NFTs within Xbox games.
Competitive Advantage: If other gaming platforms start adopting cryptocurrency wallets and related features, Microsoft might consider it as a competitive necessity to keep up with the market.
Financial Services Integration: Microsoft has a history of diversifying its services beyond software and hardware. They may explore partnerships or services related to cryptocurrency and blockchain technology, and an Xbox crypto wallet could be part of this strategy.

It's important to emphasize that implementing a cryptocurrency wallet in a gaming console involves various technical, potential regulatory, and security challenges. We at Cogni, know all too well the pain in implementing a web3 solution into an existing web2 infrastructure. We’ve seen evidence from Microsoft that shows how their Edge browser + wallet will look like, so we know they’re hard at work.

This could be a game changer (no pun intended).

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