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Mojang Studios, the Microsoft-owned company behind Minecraft, issued a statement on NFTs. NFTs will not be allowed in Minecraft, Mojang said.
According to the company, NFTs encourage profiteering and exclude.
For more stories go to www.BusinessInsider.co.za.
Mojang Studios, the company behind Minecraft, has made it clear that it will not be integrating NFTs in the game. This announcement was made on Wednesday.
NFTs, also referred to as non-fungible tokens (or tokens that are not fungible) are digital assets that can be described as digital artworks.
Other major studios in the field of gaming have embraced an NFT trend and the gaming industry is seen by many as a huge growth market for the tokens.
Mojang said it would not join the bandwagon.
Mojang stated that NFTs create models of scarcity, exclusion and discrimination, which are in contradiction to our guidelines and the nature of Minecraft. NFTs do not encompass all members of our community and create a scenario of haves and nots.
Mojang was also concerned that NFTs in Minecraft might lead to fraudulent activity.
The company said that NFTs"speculative pricing and investment mindset encourages profiteering and takes away the game's purpose.
Gaming
"We are also concerned about third-party NFTs which may not be reliable and could cost the players who purchase them."
Mojang's claim is bolstered by the popularity of Minecraft. Minecraft was the most-played game in the US during the first three months of this year, according to data from market research company NPD Group.
Microsoft owns Mojang Studios. Microsoft did not respond immediately when contacted by Insider to inquire if Mojang's statement was reflective of Microsoft's position in general on NFTs.
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