In the future, Xbox console users can expect innovative integration with a crypto wallet. Is Microsoft really planning such changes? And if so, how will it affect the current cryptocurrency market?
If we took a look at the uncensored documents published in relation to the Federal Trade Commission case against Microsoft over the acquisition of Activision, we would discover interesting information about the tech giant’s plans in the cryptocurrency area. These documents suggest that the future Xbox console would offer users a crypto wallet.
Interestingly, an internal Microsoft presentation from May 2022, viewed by Decrypt, indicates a variety of ways users would spend funds, including in-game economies and a crypto wallet feature. Axios was the first to report on this part of the crypto wallet plan.
Further context reveals that the wallet was to be an “Xbox/Microsoft” solution, not “industry-wide” – suggesting Microsoft itself would develop it. It remains unclear whether this wallet would be built from scratch internally or would be an integration with existing crypto wallets like MetaMask or Coinbase Wallet.
It’s worth noting that plans regarding the crypto wallet were presented internally in early May of the previous year. All this happened a week before the major crash in the cryptocurrency market, caused by Terry’s bankruptcy.
Since then, the cryptocurrency market remains in a so-called bearish trend, with the values of Bitcoin and Ethereum being only a fraction of their peak values in 2021. Therefore, while cryptocurrency enthusiasts might be excited by such news, it’s still unclear whether the current state of the market influenced Microsoft’s decisions regarding the implementation of the proposed feature.
The world of technology and cryptocurrencies is full of surprises, so we have to wait for Microsoft’s official statement on this matter. We might soon find out if the crypto wallet in Xbox becomes a reality.
