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Mojang Studios, the Microsoft-owned company that developed Minecraft, issued a statement on NFTs. NFTs will not be allowed in Minecraft, Mojang said.
The company claimed that NFTs are exclusionary and encourage "profiteering."
For more stories go to www.BusinessInsider.co.za.
Mojang Studios, the company behind Minecraft has made it clear it will not be using NFTs in the game. This statement was made on Wednesday.
NFTs, also referred as non-fungible tokens (or non-fungible tokens) are digital assets that can be described as digital art.
Other major games studios have also joined the NFT trend, and the gaming industry is regarded as to be a major growth industry.
Mojang made it clear it will not be jumping on the bandwagon.
In its statement, Mojang said NFTs "create models of exclusion and scarcity that violate our rules and the spirit of Minecraft. NFTs aren't inclusive of all of our community and create a situation of the haves and have-nots."
Mojang also appeared to be worried that NFTs in Minecraft could lead to fraudulent activities.
"The speculation on pricing and investment mentality around NFTs distracts the player from playing the game and encourages profiteering," the company said.
"We are also concerned about third-party NFTs that may not be reliable, and could cost those who buy NFTs."
The popularity of Minecraft gives Mojang's announcement credibility. Feah According to the data of NPD Group, Minecraft was the most played game in the US during the first three months.
Mojang Studios is owned by Microsoft. Microsoft did not immediately respond to inquiries made by Insider to inquire if Mojang's statement was reflective of Microsoft's position a whole regarding NFTs.
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