196

Minecraft dismisses in-game NFTs citing a lack of ‘values of creative inclusion’

Minecraft dismisses in-game NFTs citing a lack of ‘values of creative inclusion’
Jordan
Major
4 weeks ago
2 mins read

Mojang Studios, a gaming company, owned by Microsoft (NASDAQ: MSFT), has announced that it will prohibit the use of non-fungible tokens (NFTs) and other blockchain-related items in its immensely popular and long-running game ‘Minecraft.’

The NFT idea represents a model of scarcity and exclusion of material, which goes against the criteria they have established for their community, the firm noted in a statement released on July 20.

By preventing Minecraft from integrating with blockchain-based goods in the form of worlds, skins, persona items, or other modifications, the company hopes to provide users with a secure and welcoming experience. 

Mojang said in a blog post that the notion that players should be able to use the activities they participate in to earn NFTs tied to scarcity and exclusion “does not align with Minecraft values of creative inclusion and playing together.”

Minecraft NFT ban is unexpected

It’s interesting to note that Minecraft received a Web3 metaverse upgrade called “NFT Worlds” in February of this year, yet the unexpected restriction on NFTs came after it. Meanwhile in April Minecraft developers drew up a pledge for studios to engage responsibly with crypto.

The “pricing and investment mentality” surrounding NFTs was also criticized, since this mindset distracts players from their primary goal of enjoying the game and reduces this desire to do so.  

Lastly, the business warned gamers of Minecraft about NFTs created by third parties. It was mentioned that gamers risk losing their investments if they use third-party NFTs since they are not very trustworthy. The rationale for this issue is that third-party NFTs need an asset manager who may disappear without notice.

Latest News

Join us on Twitter or Telegram

Or follow us on Flipboard Flipboard

Like the article? Vote up or share on your social media

Recommended content

Weekly Finance Digest

By subscribing you agree with Finbold T&C’s

Jordan Major
Author

Jordan is an investor and market analyst. He's passionate about stocks, ETFs, blockchain, and digital assets. At Finbold.com, he delves into the technicalities to obtain future trends for new market traders and gives insights into user-friendly platforms for beginners.