Minecraft creator rejects NFTs, citing a lack of inclusivity

Minecraft creator rejects NFTs, citing a lack of inclusivity


Minecraft is the best-selling game of all time, with lifetime sales of more than 238 million units.

Igor Golovniov | Sopa Images | Lightrocket | Getty Images

Mojang, the developer behind Minecraft, is not a fan of nonfungible tokens.

The Microsoft-owned company said Wednesday that it won’t support NFTs in Minecraft because they’re “not inclusive of all our community and create a scenario of the haves and the have-nots.”

NFTs are tokens on the blockchain that aim to prove ownership of a unique digital item, whether it’s a piece of graphic art or a video game avatar. Last year saw huge inflows into NFTs with prices of some reaching millions of dollars.

They’ve been the target of intense scrutiny from regulators and the broader public due to the speculative nature of people buying them in the hope of making a quick profit, as well as concerns surrounding the environmental impact of the underlying blockchain technology.

In a blog post Wednesday, Mojang said NFTs don’t align with Minecraft’s values and therefore aren’t allowed in the game.

“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,” the company said.

“To ensure that Minecraft players have a safe and inclusive experience, blockchain technologies are not permitted to be integrated inside our Minecraft client and server applications nor may they be utilized to create NFTs associated with any in-game content,” the company said.

NFTs are a particularly contentious subject among gamers, who’ve pushed back on initiatives from Ubisoft and other publishers aimed at incorporating the technology into their games.

Acquired by Microsoft in 2014 for $2.5 billion, Minecraft is the best-selling game of all time, with lifetime sales of more than 238 million units. The game’s success has been attributed to a focus on accessibility and being family-friendly.

Last month, Microsoft co-founder Bill Gates blasted NFTs as “100% based on greater fool theory” — a reference to the idea that an overvalued asset can be inflated in price further if there’s a “greater fool” willing to pay up for it.



Source

AI chipmaker Cerebras withdraws IPO
Technology

AI chipmaker Cerebras withdraws IPO

Artificial intelligence chipmaker Cerebras said on Friday that it’s withdrawing plans for an IPO, days after raising over $1 billion in a fundraising round. In a filing with the SEC, Cerebras said it does not intend to conduct a proposed offering “at this time,” but didn’t provide a reason. A spokesperson told CNBC on Friday […]

Read More
Amazon shutters 4 Fresh stores in Southern California as grocery strategy keeps shifting
Technology

Amazon shutters 4 Fresh stores in Southern California as grocery strategy keeps shifting

An employee arranges a salad dressing display at an Amazon Fresh grocery store on December 12, 2024 in Federal Way, Washington. David Ryder | Getty Images Amazon is closing four more Fresh supermarkets in Southern California as the e-commerce giant continues to focus its grocery strategy around Whole Foods and delivery. The closures will take […]

Read More
Quantum stocks Rigetti Computing and D-Wave surged double-digits this week. Here’s what’s driving the big move
Technology

Quantum stocks Rigetti Computing and D-Wave surged double-digits this week. Here’s what’s driving the big move

Inside Google’s quantum computing lab in Santa Barbara, California. CNBC Quantum computing stocks are wrapping up a big week of double-digit gains. Shares of Rigetti Computing, D-Wave Quantum and Quantum Computing have surged more than 20%. Rigetti and D-Wave Quantum have more than doubled and tripled, respectively, since the start of the year. Arqit Quantum […]

Read More