For those of you who are experiencing an error when your game suddenly won't read your discs anymore, I may have a fix for you. I just got off the phone with a very friendly agent from Xbox Support who helped me fix this issue. It worked for me but I cannot promise it will do the same for you.
Before we begin, the support agent and I were discussing the idea that this problem could be a result of participating the most recent Beta preview update. Because this was not something that was an issue before the update rolled out.
This was the fix that helped for me:
1. Remove any discs from the console.
2. Hold the power button down on your XB1 console for 10 seconds so that it shuts off completely.
3. Unplug EVERYTHING from your console (Power, HDMI, Kinect, Cable, Ethernet, etc.)
4. Unplug your power brick from the WALL as well.
5. Your power bricks light should be lit up orange. We want to wait for that light to turn off (may take a few minutes to drain).
6. Once the light turns off and your brick is completely out of juice, go ahead and plug everything back into your console and start it back up.
7. Insert your game disc and hopefully it will be working probably. This is what worked for me!
Anyway, I hope this helps. Thank you XBOX support for fixing this for me. Your agent was awesome. That being said, fix this glitch/issue asap!