Minecraft Isn''t Buying The NFT Hype, Says They''re Exclusionary And Encourage ''profiteering''

Mojang Studios, the Microsoft-owned company behind Minecraft, issued a statement on NFTs. Mojang stated that NFTs would not be allowed in Minecraft.


According to the company 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 that it will not be integrating NFTs in the game. This statement was made on Wednesday.

NFTs, also known as non-fungible tokens (or non-fungible tokens), are digital assets that can often be described as digital artworks.

Other major games studios have also embraced the NFT craze, and the gaming industry is considered a major growth market.

Mojang has made it clear that it won''t be joining the bandwagon.

Mojang stated in a statement that NFTs created models of scarcity or exclusion which were inconsistent with the guidelines and spirit of Minecraft. NFTs are not inclusive and create a scene of the haves versus the have-nots.
PYRAMIDS

Mojang was also concerned that NFTs in Minecraft might lead to fraudulent activity.

"The speculative pricing, investment mentality around NFTs takes focus away from playing the game and encourages profitable behavior," the company stated.

"We are also concerned about third-party NFTs that may not be reliable, and could end up costing players who purchase them."

Mojang''s statement is bolstered by Minecraft''s popularity. According to NPD Group data, Minecraft was America''s most-played video game for the first three of this year.

Microsoft owns Mojang Studios. Insider reached out to Microsoft to find out if Mojang''s statement reflected the company''s overall stance on NFTs. Microsoft did respond but not immediately.