The reasons are quite explicit.
In simpler words, if you have an NFT for a pickax that looks like a lightsaber, you can claim to be the genuine and legal owner of the original lightsaber pickax. The same is with any of the Minecraft skins, worlds, persona items, etc. The nature of NFT or non-fungible token is such that it verifies the holder as the one true owner of the asset.
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This asset could be anything–video, an illustration, a character in a video game, a pixelated picture, or anything else that you can access on a computer.
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In the guidelines, Minecraft developer Mojang Studios took a strong stance against NFTs, explaining that NFTs run counter to the game’s cooperation and collaboration because the virtual assets are by their nature extremely scarce collector’s items.
Each of these uses of NFTs and other blockchain technologies creates digital ownership based on scarcity and exclusion, which does not align with Minecraft values of creative inclusion and playing together.Minecraft Statement
Mojang argues that the speculative nature of NFTs encourages profiteering. Players would spend more time assessing NFTs values and trying to make money through Minecraft over playing the game itself.
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Mojang also argues that NFTs can take away the long-term enjoyment of the game from the players.
Mojang cited other concerns with NFTs. He raises arguments around quality control, reliability, instances of fraud, and NFTs sold at artificially or fraudulently inflated prices. While Mojang does not completely ban the use of NFTs, the company said it would pay “close attention” to how the technology evolves.
This means that the ban of NFTs on Minecraft is conditional when the staff states that:
What do you think of this move by Minecraft?
Are NFTs good for Minecraft or do you agree with Mojang?
Let me know in the comments!