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Mojang Studios, the Microsoft-owned company behind Minecraft, issued a statement on NFTs. email NFTs will not be allowed in Minecraft, Mojang said.
According to the company NFTs are exclusionary and encourage profiteering.
For more stories go to www.BusinessInsider.co.za.
Mojang Studios, the company behind the wildly popular video game Minecraft, has announced it won't be integrating NFTs into the game in a statement on Wednesday.
NFTs, which are non-fungible tokens, are unique digital assets. They often take the form digital artworks.
Other major games studios have also embraced the NFT craze, and the gaming industry is considered a major growth market.
Mojang stated that it would not join the bandwagon.
In its statement Mojang said NFTs "create models of scarcity and exclusion that conflict with our guidelines and the spirit of Minecraft. NFTs don't include all of our community, and create a scenario where the haves and the nots.
Mojang was also worried about NFTs in Minecraft leading to fraud.
The company stated that NFTs' speculative pricing and investment mentality encourages profiteering and takes away the focus from the game.
"We are also concerned that some third-party NFTs may not be reliable and may end up costing players who buy them."
Mojang's statement is bolstered by Minecraft's popularity. According to data from NPD Group market research, Minecraft was the most-played US game in the first three month of 2012.
Mojang Studios is owned by Microsoft. Insider reached Microsoft for comment but did not receive a response.
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