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MLB Team Washington Nationals Partners With Terra Blockchain Community, Ballpark Plans to Accept UST

On February 9, the American professional baseball team based in Washington, D.C., the Washington Nationals, announced the team has partnered with Terra, the open-source blockchain platform and decentralized autonomous organization (DAO). The Washington Nationals detail that the team is a “leading innovator” and is “consistently introducing new technologies to enhance the fan experience.” Washington Nationals Ink Long-Term Deal With Terra Major League Baseball (MLB) team the Washington Nationals has partnered with the blockchain platform and DAO Terra, according to an announcement published by the team on Wednesday. The deal with Terra follows a slew of sports-related deals with crypto firms, but the MLB team will be the first to partner with an open-source blockchain project. In addition to the partnership, the algorithmic stablecoin UST that’s issued on the Terra blockchain will be “accepted as a payment method at Nationals Park as early as next season.” “The Nationals continue t...
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Xbox head Phil Spencer is skeptical about NFTs in video games

The worlds of gaming and NFTs continue to blend, but Microsoft's gaming head is weary that NFTs are “more exploitative than about entertainment."

Phil Spencer, Microsoft’s head of gaming, commented on his skepticism towards nonfungible tokens, or NFTs, in an interview with Axios:

“What I'd say today on NFT, all up, is I think there's a lot of speculation and experimentation that's happening, and that some of the creative that I see today feels more exploitive than about entertainment."

As head executive of Microsoft's Xbox division, Spencer’s words carry weight. Xbox is the game console operating system with the second-largest global market share behind only PlayStation. This gives Xbox a lot of power over the acceptance or rejection of NFT projects into the gaming ecosystem.

What console wars? PlayStation has diverted from the pack to lead in global market share. Source: Statcounter

Spencer added that he is not completely against all NFTs, clarifying that he doesn’t think that “every NFT game is exploitative. I just think we're kind of in that journey of people figuring it out.”

Although the earliest NFT can be traced to 2014-15, it wasn’t until this year that the market’s valuation skyrocketed into multi-million dollar territory. And within the gaming space, blockchain-based games and play-to-earn, or P2E, games are paving the way for a new era in gaming.

Blockchain’s role in transforming the gaming market appears to be intensifying through GameFi, which refers to the financialization of gaming. Over the past month, at least three venture funds have announced sizable capital allocations to so-called GameFi projects. NFTs, meanwhile, have blossomed into a multi-billion-dollar market, with the total sale of digital collectibles hitting $10.7 billion in the third quarter.

Related: Solana Ventures, Lightspeed Venture Partners and FTX launch $100M gaming fund

November marks Xbox’s 20th anniversary. The company commemorated its vicennial with a live streamed celebration with game announcements and updates.

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