While some industries are figuring out their thoughts on NFTs however, the video game community is making it clear: NFTs stand for "No F'n Thanks" in their industry.
The latest company to stand up against non-fungible tokens is Mojang Studios, the developer of the massively popular video game Minecraft.
In a statement put out today on the official Minecraft website, titled simply "Minecraft and NFTs," the company made it crystal clear that it would not allow any form of blockchain or NFT integration into its game.
Mojang Studios and Minecraft laid out a number of arguments for why they are opposed to NFTs. They stated that fake shortages play an important role in. NFTs, also known as tokens that are not fungible, are basically digital assets that are stored on blockchain. A unique token is minted and connected to the media file to prove ownership of the piece, which turns NFTs into speculation assets.
The statement clarifies that Minecraft is not against monetizing and cites the example of users charging for access to the Minecraft server as an approved use scenario. However, because NFTs will alter the game's dynamics and give players with monetary means an upperhand in-game the game, the Minecraft developer is against the technology.
"To ensure that Minecraft players enjoy an enjoyable and safe experience, blockchain technology is not allowed to be used inside our Minecraft client and server applications nor may they be utilized to create NFTs associated with any game-related content, such as worlds, skins, persona items, or other mods," declares the statement.
The developer also brought up concerns about the credibility of third-parties who mint Minecraft-related NFTs, and their tendency to drop projects, and fraudulently inflate prices on NFT aftermarkets.
Molly White, the Web3 is Going Great website, succinctly stated that "No blockchain is needed for a block game" The website tracks the various scams, frauds, and drama that are taking place in the Web3 world that includes cryptocurrencies and NFT projects.
As White notes that the value of the existing (and not-approved) Minecraft NFT projects tanked due to the news of Mojang Studios' statement. NFT Worlds, which is also associated with tokens, saw both the value of the token as well as its NFT floor prices plummet by more than 70 percent.
Minecraft's Mojang Studios is far from the first video game company to operate completely free of NFTs. 30tt Gamers have expressed that they don't like the idea of buying NFTs in addition to the video games they already have. Their skepticism about NFTs has made it necessary for the industry to follow suit. Sony recently unveiled Playstation Stars, a loyalty program that rewards players with digital collectibles. These digital collectibles do not constitute NFTs, the company stated.
"It's certainly not NFTs. Absolutely not. It is not possible to trade or sell them. This isn't making use of any Blockchain technology, and certainly not NFTs," Grace Chen, Sony's VP of network advertising and loyalty spoke to The Washington Post.
Mojang Studios ended its statement with a promise to monitor the development of blockchain technology to be used in future applications. However this leaves the door open to future applications based on the current possibilities. However, for the foreseeable future, this is another win for gamers who dislike NFTs.