Microsoft Points: real money in, fake currency out, permanent leftovers
Xbox 360 launched with Microsoft Points, a scrip currency sold in awkward bundles
One of only 20 things they have ever fully walked back.
The market's verdict: -1.5% on MSFT in the week after.
What actually happened
The Xbox 360 arrived on November 22, 2005 with its own currency. Microsoft Points were sold in packs of 400, 800 and 1,600 for five, ten and twenty dollars, which guaranteed that buying anything always left an unspendable residue in your account. Reviewers did the math on buying a single song and found Microsoft would be holding at least $4.01 of your money at all times. The points were retired on August 26, 2013 and replaced with actual local currency, and converted balances quietly expired in June 2015 if nobody spent them. A currency whose main innovation was making prices hard to compare, kept on the market for eight years.
This one is officially acknowledged.
Links
↳ caused by Xbox 360 launch (Microsoft Points)
Timeline
- Nov 22, 2005 Announced Microsoft announced it.
- Aug 26, 2013 Walked back Retired with the August 2013 dashboard update; local currency took over.