NFTs remain somewhat of a controversial topic. Depending on who you ask, they are either the beginning of a new internet, a promising technology still looking for a practical application, or simply a colossal scam. Therefore, some players are understandably concerned about NFTs coming to the gaming industry.
The anti-NFT faction had a minor victory earlier today, with Mojang stating Minecraft will not support NFTs or other blockchain technologies. The Minecraft the developer announced this decision in a statement saying that the nature of NFTs “is inconsistent with Minecraft values of creative inclusion and playing together.”
As Mojang’s statement clarified, Minecraftthe user terms allow server owners to charge other players for access. These server hosts must give all users access to the same content. The studio explains that this policy stems from Mojang’s desire to keep Minecraft as safe and inclusive as possible. However, NFTs derive their value from exclusivity and artificial scarcity, which the studio feels goes against these principles. Thus, Mojang has decided to ban all blockchain technology from Minecraft, its servers and associated applications. This includes all user-generated or third-party content such as mods, skins, worlds and persona items.
In the statement, Mojang notes that several companies have released NFTs of Minecraft worlds and skins. The studio also recognizes the possibility of other NFT implementations such as collectibles, in-game rewards, and out-of-game rewards. However, Mojang believes that all of these violate the studio’s stance on Minecraft.
Mojang also expressed concern about the security and reliability of third parties Minecraft related NFTs. It notes that some NFTs rely on asset managers who can disappear without warning. Then there is also the risk of sellers pushing fake or overvalued NFTs on unsuspecting buyers. While Mojang acknowledges it Minecraft players have the right to monetize their in-game creations, the company does not believe NFTs are an appropriate way to facilitate this.
Mojang’s statement does not address the oft-made accusation that NFTs are a scam per se. Microsoft co-founder Bill Gates apparently shares that view, last month dismissing NFTs as “100% based on the Greater Fool Theory.” For those unfamiliar with the concept, the Greater Fool Theory is the idea of a “fool” knowingly buying an overvalued asset in hopes of selling it for a profit to a “greater fool.” However, this is not a sustainable model for the NFT market, as it relies on the previous investor always being able to find a willing buyer.
It is unclear whether Mojang’s decision was influenced by the comment from the parent company’s co-founder. However, it would not be surprising if Gates’ opinion had some influence. Regardless, while Mojang says it may reconsider its stance depending on how blockchain technology evolves, the studio won’t be bringing NFTs to Minecraft anytime soon.
Minecraft is available on mobile, PC, PS4, PS5, Switch, Xbox One and Xbox Series X/S.
Source: Mojang
