Next generation of Xbox Live Rewards to be unveiled September 1

Microsoft has confirmed that its old format of Xbox Live Rewards will be shelved next month to make way for a new scheme, which is set to be revealed on September 1.

In an email sent to Rewards Members, Microsoft explained that because it is canning its MS Points currency, players will no longer receive the points as part of their Xbox Live rewards starting August 1.

The email sheds light on a new reward format set to replace the Microsoft point pay-outs, "Since this currency change is impacting the structure of the program, we’re taking the opportunity to make Xbox Live Rewards even better.

"You’ll continue to get rewarded for doing the things you love on Xbox Live – just not with Microsoft Points. So come back to rewards.xbox.com on September 1, 2013 for the full scoop."

Meanwhile, beta testers currently trying out Xbox Live's real-currency transactions were dismayed to find the prices of digital wares increased after the conversion from points. However, Microsoft has since issued a statement to say that the price hike was in error.

What could Microsoft offer players instead of Microsoft Points we wonder? What do you think?

Thanks OXM.