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Mojang Studios, the Microsoft-owned company that developed Minecraft, issued a statement regarding NFTs. NFTs will not be allowed in Minecraft, Mojang said.
According to the company, NFTs encourage profiteering as well as exclusion.
For more stories go to www.BusinessInsider.co.za.
Mojang Studios, the company behind Minecraft, has made it clear it will not be integrating NFTs in the game. The announcement was made on Wednesday.
NFTs, also known as tokens that are not fungible, are unique digital assets that typically take the form of digital artworks.
Other major games studios have also embraced the NFT craze, and the gaming industry is considered a major growth market.
Mojang has made it clear that it will not be joining the bandwagon.
In its statement, Mojang stated that NFTs "create models of scarcity and exclusion that violate our rules and the spirit of Minecraft. NFTs are not inclusive of all our communities and create a situation of the haves and have-nots."
Mojang also appeared to be worried that NFTs in Minecraft could lead to fraudulent activity.
The company stated that NFTs"speculative pricing and investment mentality encourages profiteering and obstructs the game's main focus.
"We are also concerned that some third-party NFTs might not be reliable and could end up costing the players who buy them."
Mojang's assertion is supported by the popularity of Minecraft. Szv7 According to data from NPD Group, Minecraft was the most played game in the US during the first three months.
Mojang Studios is owned by Microsoft. Insider reached out to Microsoft to ask whether the Mojang statement was representative of the company's overall policy regarding NFTs. Microsoft did not respond immediately.
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