While it seems like a large number of video game publishers are rushing to at least claim they are interested in NFTs as a new revenue source, at least one major executive is a bit skeptical. That would be Xbox’s Phil Spencer, who spoke to Axios about NFTs and the blockchain in regard to video games, and why he’s not having Xbox dive in like Ubisoft or EA, who have expressed interest.

“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.”

Spencer goes on to say he doesn’t think all NFT games are exploitative, but he’s cautious about something like that appearing in the Xbox ecosystem, given how nascent this scene is. This is different language than we’ve seen from the likes of other game publishers. EA recently called NFTs and the blockchain “the future of the industry,” where the company already makes billions on Ultimate Team collectibles, so turning them into potentially even more profitable NFTs seems like an obvious potential step for them. Ubisoft has said similar things, a company that has never seen a potential new gaming platform they didn’t like.

The most major player in the gaming space to take a stand against blockchain and NFT games has been Steam, which has banned them from the platform, while rival Epic Games said they are open to the concept in their store.