10th Dec, 2022
Mojang is also concerned about "situations where NFTs are sold at artificially- or fraudulently inflated rates" and situations in which NFT assets "may need an asset manager who might vanish without notice." Mojang warns that these issues could lead to "some third-party NFTs not being reliable" and could end up costing players who purchase them.
NFT World tokens have been falling in daily trading for months, despite the larger crypto crash in recent months. Mojang's Wednesday announcement triggered a drop in the price of NFT Worlds cryptocurrency by nearly 70%.
The leaders of NFT Worlds expressed confidence in their future despite the "out of nowhere" announcement by Microsoft/Minecraft. They felt it was a step backwards and could have negative downstream effects.
NFT Worlds' team said it is currently brainstorming next steps and reaching out to Mojang decision-makers to see if they can come up with a better outcome that benefits both the Minecraft player base and Microsoft's vested interests in blockchain/NFT technology. If an arrangement is not possible and NFT Worlds is banned from interfacing with Minecraft, the team will "pivot" to its own "Minecraft like game engine & platform" or to become a "GameFi platform for other studios seeking their own NFT/metaverse solutions.
The team wrote, "Bottom line we're still here." "We have the community, the warchest and the knowledge to build.