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Mojang Studios, the Microsoft-owned company that runs Minecraft has issued a statement regarding NFTs. NFTs are not permitted in Minecraft, Mojang said.
The company said NFTs are not a requirement and encourage "profiteering."
For more stories go to www.BusinessInsider.co.za.
Mojang Studios, the company behind Minecraft, has made it clear that it will not be using NFTs in the game. This announcement was made on Wednesday.
NFTs, also known as non-fungible tokens (or tokens that are not fungible), are digital assets that can often be described as digital artworks.
Other major gaming studios have also embraced the recent NFT craze and the gaming industry is seen by some as a significant growth market for the tokens.
Mojang has stated that it will not join the bandwagon.
In its statement Mojang said NFTs "create models of exclusion and scarcity that are in contradiction to our guidelines and the spirit of Minecraft. NFTs do not encompass all members of our community and create a semblance of the haves and the not-so-haves.
Mojang also seemed to be concerned that NFTs in Minecraft could be a source of fraud.
The company claimed that NFTs' speculative pricing and investment mindset encourages profiteering and takes away the game's main focus.
"We are also concerned about third-party NFTs which may not be reliable and could cost players who purchase them."
The popularity of Minecraft gives Mojang's claim the weight it deserves. Minecraft was the most played game in the US during the first three months of this year, according to information from market research firm NPD Group.
Mojang Studios is owned by Microsoft. Microsoft did not respond immediately when contacted by Insider to ask whether Mojang's comments were reflective of the company's stance as an entire on NFTs.
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