THE COMPANY HAS NO INTENTIONS TO INTEGRATE BLOCKCHAIN TECHNOLOGY INTO MINECRAFT

The most typical use case for an NFT today is digital art like JPEGs, though it can be connected to any digital asset, like a MPEG or a GIF. Minecraft issued a statement late on Wednesday saying that “NFTs are not inclusive of all our community and create a situation of the haves and the have-nots.”

The firm said that the speculative pricing and investment mentality around NFTs “takes the focus away from enjoying the game and encourages profiteering, which we think is inconsistent with the long-term delight and success of our players.”

Blockchain technology will not be allowed to be incorporated inside Minecraft’s client and server applications to guarantee that users have a secure and inclusive experience.

The business stated that Blockchain technology “may be utilized by Blockchain technology to build a scarce digital asset from Minecraft in-game content such as worlds, skins, persona items, or other mods.”

NFTs and other Blockchain technologies, according to the corporation, create a system of digital ownership based on scarcity and exclusion, which is at odds with its principles of inclusive creativity and collaborative play.

“We worry that some third-party NFTs might not be trustworthy and harm players purchasing them. Some implementations of third-party NFT rely only on blockchain technology and may call for an asset manager who might vanish without warning.” Minecraft issued a caution.

NFTs have occasionally been sold for exorbitantly inflated prices through fraud or other unethical means.

We currently have no intentions to integrate blockchain technology into Minecraft, the statement continued.