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Mojang Studios, the Microsoft-owned company behind Minecraft has issued an announcement regarding NFTs. NFTs are not allowed in Minecraft, Mojang said.
According to the company, NFTs promote profiteering and exclude.
For more stories go to www.BusinessInsider.co.za.
CITY2020
Mojang Studios, the company behind Minecraft, has stated that it will not be using NFTs in the game. The announcement was made on Wednesday.
NFTs, also known as tokens that are non-fungible, are distinctive digital assets that often take the form of digital artworks.
Other major gaming studios have also embraced the recent NFT trend, and the gaming industry is seen by many as a huge growth market for the tokens.
Mojang has made it clear that it will not be jumping on the bandwagon.
In its statement, Mojang said NFTs "create models of scarcity and exclusion that are in contradiction to our guidelines and the spirit of Minecraft. NFTs do not include all members of our community and create a situation of the haves and have-nots.
Mojang was also concerned that NFTs in Minecraft could result in fraud.
"The speculation about pricing and the investment mindset around NFTs distracts the player from playing the game and encourages profiteering" the company stated.
"We are also concerned that some third-party NFTs may not be reliable and may cost players who purchase NFTs."
Mojang's claim is bolstered by Minecraft's popularity. Minecraft was the most-played game in the US in the first three months of this year, according to information from market research firm NPD Group.
Microsoft owns Mojang Studios. Insider contacted Microsoft to inquire if Mojang's statement was representative of the company's overall policy on NFTs. Microsoft did not respond immediately.
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