Can Microsoft Teams work with IP Cameras

I've not seen it used directly, but you can use something like Open Broadcaster Software (https://obsproject.com/) and it's virtual web cam. You'd create a scene in OBS, add the remote cameras, and then turn on the virtual web cam. Teams will see the virtual web cam and allow you to use that as your video source.

There is support for NDI, but it's outbound only, so that's not really a help.

I don't think it is working with IP camera it will still work with IP phones though.