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On Wednesday, the Microsoft-owned video game Minecraft announced a ban on non-fungible tokens (NFTs) from its game.
In a statement, Minecraft studio Mojang said:
“To ensure that Minecraft players have a safe and inclusive experience, blockchain technologies are not permitted to be integrated inside our client and server applications, nor may Minecraft in-game content such as worlds, skins, persona items, or other mods, be utilized by blockchain technology to create a scarce digital asset.”
With its decision, Minecraft is taking a clear position in what has been an ongoing battle between the traditional gaming world and Web3.
Although Minecraft does see benefits in the introduction of NFTs, such as offering play-to-earn (P2E) rewards and in-game collectibles, it still largely sees the risks associated. The company said:
“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.”
Minecraft’s decision does not go without consequences. Related projects have to fear for their existence. One of the business that got smashed following the news is NFT Worlds, Web3 gaming project focused on third-party blockchain and NFT Minecraft integrations. NFT prices tanked to below 70% of its previous worth, while its native token, WRLD, lost 65% according to CoinMarketCap data.