The Minecraft team has just asserted that it is not jumping on the NFT bandwagon. Undoubtedly, having such a popular game reject NFTs could have serious consequences for game developers such as NFT Worlds. Moreover, such a decision will potentially have a negative impact on the relationship between NFTs, blockchain and gaming.
Minecraft versus the NFT community
According to Minecraft developer Mojang: “NFTs are not inclusive of all our community 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.”
Such a decision is set to negatively impact companies that have begun selling Minecraft NFTs. NFT Worlds is one such company. It was selling NFTs of virtual land that can also be used in Minecraft. By using Minecraft’s open source ecosystem, NFT Worlds was preparing for what it thought was the next logical move for the popular game.
An NFT Worlds developer announced: “This out of nowhere announcement by Microsoft/Minecraft to outright ban all possible uses of NFTs & blockchain tech within Minecraft feels like a step backwards in innovation, and may even have painful downstream effects for them in the long run.”
Will this decision influence other games?
In the current bear market, some teams behind popular and emerging games have pulled out of crypto and NFT-related projects. Ubisoft’s Quartz has performed worse than expected, while Axie Infinity’s hack was detrimental to the popular P2E game.
However, there is undoubtedly a silver lining to all this. According to NFT Worlds, “We’ve had multiple other metaverse/gamefi projects immediately reaching out to us wanting to use this tech we’ve already proven, strongly kickstarting possible adoption of such a platform.” This reinforces that there is still a lot of interest in exploring the benefits of blockchain and NFT technology.
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This article is educational material.
As always, make your own research prior to making any kind of investment.
