Animoca Brand co-founder Yat Siu called the latest Minecraft NFT banning “hypocritical.” Also, he underlined that NFT could become inclusive, contrary to previous arguments.
Animoca Co-Founder Criticizes Minecraft For Banning NFTs
On July 20th, Minecraft’s Mojang Studios outlawed the integration of NFTs on its gaming platform. The agency said NFTs went against its core principles since they encourage scarcity, exclusion, price speculation, and the possibility of rug pulls.
Meanwhile, Siu aired his indignation at Mojang Studios in an interview with Cointelegraph. The executive of Animoca cited the circumstances surrounding the integration of NFTs on Minecraft before the restriction.
Initiatives such as NFT Worlds use Minecraft’s open-source servers to run a metaverse hub. The Metaverse system had ecosystems for NFTs and cryptocurrencies created around it.
The initiative was very popular. This is because it produced over $80 million in NFT transaction volume and claimed to have over 100,000 users.
According to Minecraft, it fights for inclusion. However, the company noted that NFTs usage in games encourages “exclusion.” Responding, Siu mused that he considered it ridiculous that Minecraft would restrict NFT usage because of a small fraction of its user base.
Additionally, he said this is hypocritical because NFTs have not harmed anybody at Minecraft. Besides, it is obvious that these persons are the minority.
Sui Talks About Exclusion Or Inclusion Of NFTs
Siu believes the owner of Minecraft made a preference-based choice. This is because the firm did not provide any proof. Also, the choice must have relied only on perception and not proof of damage.
Furthermore, Siu agrees that people in the mainstream gaming world oppose NFTs. This is typically out of concern that they would make games monetized and unfair.
However, Users under such situations can either play on NFT-affiliated sites or not. Besides, no one imposed NFT integrations on regular Minecraft players.
Siu reinforced that suppressing minority viewpoints had diverse effects. It can ” hurt the general population and kill its progress.”
There is also the issue of if NFTs are inclusive. Siu claims that this depends primarily on how the technology is used to create community wealth. It does not depend on whether the electronic property itself or technology promotes exclusion or inclusion.
According to the co-founder, NFTs can provide participants access to a platform’s wealth. This is not the case in web2, where users don’t have control over their data.
Also, Siu asserts that NFTs allow internet users to hold tokenized assets in their preferred channels. These users are then free to use them when they want.