Minecraft Completely Bans NFTs, In-Game Tokens Demolished

Minecraft, one of this generation's most popular video games, recently banned NFTs. The internet is divided in its response to this decision.

Microsoft owns Minecraft, so this is no shock due to their distaste for combining video games and the world of Web3.

Mojang, the studio that created Minecraft, released a statement harping on the exclusive communities of "haves and the have-nots" that in-game Web3 features create:

"Each of these uses of NFTs and other blockchain technologies creates digital ownership based on scarcity and exclusion, which does not align with Minecraft values of creative inclusion and playing together. 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."

NFT projects engrained in the Minecraft ecosystem have already seen extremely negative impacts within only 24 hours of Mojang's announcement. NFT Worlds, a Web3 gaming project focused on third-party blockchain and NFT Minecraft integrations, has already seen a 70% decline in price with their project's NFTs. WRLD token, NFT Worlds's native token, is down 65% due to the ban.

Many differentiating opinions across the social media platform Twitter are ripping into Minecraft for banning NFTs.

Yat Siu, Chairman of Animoca Brands, is empathetic towards NFT project creators and buyers.

However, others side with Mojang in their firm stance against NFTs being involved with Minecraft. But, many say Mojang is hypocritical by saying that NFTs create a world of exclusivity.

Features exist within the game that allow gamers to purchase add-ons to enhance their experience. In fact, an entire Minecraft Marketplace exists providing gamers the ability to improve their experience through additional purchases.

Minecraft has created a system of haves and have-nots within the game themselves, excluding others who don't want to purchase the add-ons.

The primary difference between Minecraft's in-game marketplace and NFT projects is who takes in revenue. Mojang and Microsoft make money from purchases with their own Minecraft store, whilst all revenue from NFTs associated with the game is earned by project creators.