Minecraft will no longer support NFTs
Mojang Studios, the developer of the massively popular video game Minecraft has been the latest company to reject NFT(non-fungible tokens). Minecraft posted a blog about changing its stance toward NFTs and gave a few reasons to justify its move. The new Minecraft Usage Guidelines give an outline of how a server owner can charge for access and that all players should have access to the same functionality. Minecraft maintains these rules to ensure an equal access community. NFTs, however, can create models of scarcity and exclusion that conflict with the Guidelines and spirit of Minecraft. Minecraft has dissolved the integration of blockchain technologies inside its client and server applications. Minecraft has also stopped blockchain technology from using its in-game content, such as worlds, skins, persona items, or other mods, to create a scarce digital asset. Each of these uses of NFTs, through skins, world files, collectables and other blockchain technologies, creates digital ownership based on scarcity and exclusion, which does not align with Minecraft’s values of creative inclusion and playing together, the company said. NFTs are not inclusive of all communities and create a scenario of the haves and the have-nots. The speculative pricing and investment mentality around NFTs takes the focus away from playing the game and encourages profiteering, which we think is inconsistent with the long-term joy and success of our players. Minecraft is also concerned about some third-party NFTs that may not be reliable. Some third-party NFT implementations are also entirely dependent on blockchain technology and may require an asset manager who might disappear without notice. There have also been instances where NFTs were sold at artificially or fraudulently inflated prices. The team behind Minecraft recognises that creation inside the game has intrinsic value, and they strive to provide a marketplace where those values can be recognised. That said, the Minecraft team will be monitoring how blockchain technology evolves over time to ensure that the above principles are withheld and determine whether it will allow for more secure experiences or other practical and inclusive applications in gaming. For more information, click here.
Minecraft will also be monitoring how blockchain technology evolves over time
Minecraft will also be monitoring how blockchain technology evolves over time
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A writer by passion, Kartik strives to get a deep understanding of AI, Data analytics and its implementation on all walks of life. As a Senior Technology Journalist, Kartik looks forward to writing about the latest technological trends that transform the way of life!