Minecraft, one of the largest games in the world, announced that they were banning NFTs this week. Within hours, tens of millions of dollars of NFT investments were wiped away.
In this video I talk about the ACTUAL reasons I think Minecraft banned NFTs, as well as the bizarre community reaction that followed.
0:00 start here
1:10 losing millions in NFTs from a single blog post
2:34 the ACTUAL reasons Minecraft banned NFTs
5:19 Microsoft vs the players
7:35 the community reaction was...weird
8:08 some good ol' fashioned doublespeak
In this video I talk about the ACTUAL reasons I think Minecraft banned NFTs, as well as the bizarre community reaction that followed.
0:00 start here
1:10 losing millions in NFTs from a single blog post
2:34 the ACTUAL reasons Minecraft banned NFTs
5:19 Microsoft vs the players
7:35 the community reaction was...weird
8:08 some good ol' fashioned doublespeak
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Francisco Gimeno - BC Analyst Why did Minecraft ban NFTs, leading to investments to be swept away? And why we saw an even more weird community reaction to this ban? There were already some NFT projects linked to Minecraft, more than 160 communities doing the same, and banning NFTs wiped away everything there and also causing drop of Minecraft in the market. What is the real reason: according to this podcast, it's corporate gaslighting, by putting in their guidelines some half truths about NFTs in a way that say using NFTs in Minecraft is not inside the ethics of the platform. Well, let's remember Microsoft is the owner of Minecraft, and it really doesn't need NFTs (by now), so can do whatever they want. But this is also applied to private servers, which made the community very angry. The issue at the end is exactly like what happens with crypto. If you store your crypto in an exchange wallet, it maybe that "what you dont fully control, it doesn't belong to you". The same here, NFTs in Minecraft are lost because Microsoft and Minecraft can do whatever they want, including changing their guidelines.