Xbox Live update: Microsoft Points will be retired from 22nd August

Zune Marketplace will also be shuttered, Microsoft encourages users to spend their points.

Microsoft will begin retiring the Microsoft Points system in favour of real currency from 22nd August, according to an Xbox.com Q&A which also confirms that the Zune Marketplace is to be replaced by the Xbox Music and Video storefronts as a repository for TV shows, films and tunes.

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