Auto Draft

Yat Siu co-founded Animoca Brands, stated that they did not provide any evidence and they did not accurately identify NFTs.

Yat Siu, co-founder of the crypto/NFT venture fund giant Animoca Brands, labeled the recent Minecraft NFT ban as “hypocritical” and pointed out that nonfungible tokens (NFT) can be inclusive, despite claims to the contrary.

As previously reported, Minecraft developers Mojang Studios announced the end of all NFT integrations in the game on Wednesday. According to the firm, NFTs are against its values as they encourage speculation about prices, scarcity and exclusion, and can lead to rug pulls.
Minecraft

In an interview with Cointelegraph, Siu expressed his displeasure with Mojang Studios, given the context in which NFTs were integrated into Minecraft before the ban.

Projects such as NFT Worlds were utilizing Minecraft’s open source servers to host a metaverse platform with NFT and crypto ecosystems constructed around it. It was evident that it was quite popular considering its NFT trading volume of more than $80 million and claims of having around 100,000 players.