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Minecraft isn't Buying the NFT Hype, Says they're Exclusionary and Encourage Profiteering

  Mojang Studios, the Microsoft-owned company that runs Minecraft has issued a statement on NFTs. Xajwm's Blog NFTs will not be allowed in Minecraft, Mojang said. The company said NFTs are exclusionary and encourage profiteering. For more stories go to www.BusinessInsider.co.za. Mojang Studios, the company behind the highly acclaimed video game Minecraft, has announced it won't be integrating NFTs into the game in a statement released on Wednesday. NFTs, also known as non-fungible tokens, are unique digital assets that usually take the form of digital artworks. Other major studios in the game industry have also embraced the NFT craze and the gaming industry is considered an important growth market. Mojang has made it clear that it will not be joining the bandwagon. In its statement, Mojang stated that NFTs create models of exclusion and scarcity that violate our rules and the spirit of Minecraft. NFTs do not include all members of our community and create a situation of the haves and the not-so-haves. Mojang also appeared to be worried that NFTs in Minecraft could result in fraudulent activity. The company claimed that NFTs' speculative pricing and investment mindset encourages profiteering, and removes the game's purpose. We are also concerned about third-party NFTs that may not be reliable and could end up costing players who purchase them. Minecraft's popularity gives Mojang's statement the weight it deserves. Minecraft was the most played game in the US in the first three months of the year according to data from market research company NPD Group. Mojang Studios is owned by Microsoft. Insider reached out to Microsoft to inquire whether the Mojang statement was representative of the company's overall position regarding NFTs. Microsoft did not respond immediately.

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