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Certain gaming companies are done flirting with NFTs

Certain gaming companies are done flirting with NFTs

Some game companies which offering NFTs to players as in-game rewards have decided that their virtual worlds are better off without them.

Bloomberg reported on Sunday (Sept. 18) that one reason for the pullback from NFT plans is that the prices for some NFTs and for crypto assets in general have fallen after the NFT enthusiasm surged in 2021. Another reason cited by some gaming company executives interviewed by Bloomberg is that players don’t look to like them.

For some, NFT reward systems “basically change the functionings of a game and the anticipation of its players.” To certain participants, involving game developers and players, the enjoyment of gaming became extreme like an investment.

In a latest statement describing a new policy of not enabling NFTs on its platform, Mojang, the creator of Minecraft, pointed to different in-game NFT applications, saying: “Each of these uses of NFTs and other blockchain technologies, makes digital property based on scarcity and exclusion, that is not aligned with Minecraft values of creative inclusion and playing together.”

“We are also worried that some third-party NFTs probably not be reliable and may end up costing players who purchase them,” the announcement continued. Some third-party NFT implementations are also completely dependent on blockchain tech and may need an asset manager that may disappear without notice.”

Bloomberg dtated game developer Mark Venturelli, a critic of the integration of NFT transactions and gaming, as telling the news service through email which gamers tend to be tech-savvy and interested in the game itself. “When you combine those two things, it’s easy to see why they don’t see the appeal of a gimmicky technology which offers nothing of value other than a ‘make money fast’ scheme.

Gaming company Atmos Labs CEO Kevin Beauregard told PYMNTS for an article issued on September 2 that NFT in gaming can add experience and value to players, but he prefers not to use common industry jargon for the practice.

“I don’t like the play-to-earn narrative,” he told PYMNTS. I concentrate on the word possession. If you make something about getting money, then that’s all it is. It’s not fun anymore.”

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