Comprehensive up-to-date news coverage

HomeNewsBusinessNFTs and cryptocurrencies are prohibited on Grand Theft Auto fan servers by...

NFTs and cryptocurrencies are prohibited on Grand Theft Auto fan servers by Rockstar Games

Published on

Follow us on Google News for latest updates and information.

News Tech: We’ve seen fan-driven attempts to incorporate NFTs and crypto tokens into well-known online games like Minecraft and Grand Theft Auto V in addition to fully Web3-native games built around NFTs. But last summer, Microsoft took action to remove Web3 components from Minecraft, and now Rockstar Games has followed suit with its well-liked action brand.

Grand Theft Auto V “role-playing servers” have been run by fans for years and are well-liked on streaming services like Twitch. Players communicate online while playing as typically non-playable characters (NPCs) in role-playing servers, which ask for a fan-made modification of the PC game.

Rockstar Games made a change to its website last week that forbids the use of cryptocurrencies or crypto assets, specifically NFTs, on Grand Theft Auto V fan-operated servers.

Some of those servers have adopted NFTs and cryptocurrency tokens in order to grant players ownership of distinctive assets in a persistent game world or to offer particular special advantages to frequent players. Grand Theft Auto V servers have occasionally offered unique vehicles and weaponry that were represented by NFT assets.

Matthew Ho, a co-founder of Loud, told Decrypt today that after getting notification from Rockstar Games about a terms of service breach, Loud will make the necessary server changes within 14 days.

A GTA server with NFTs is maintained by a different firm, MyMetaverse, on Polkadot using Enjin’s Enjinverse technology. Enjin and Rockstar Games reps were contacted by Decrypt, but neither of them responded to requests for comment right away. A blockchain currency called an NFT can be used to signify ownership of a special good like playable video game assets, original artwork, or collectibles. The technology can power games like Axie Infinity, which generated over $4 billion in NFT trading volume, and allow users to own, trade, or sell their own assets, but has not yet been widely adopted.

See also  IRDAI lowers standards for private equity investment and solvency

Microsoft and the game’s creator Mojang revealed intentions to outlaw NFTs and cryptocurrency tokens from fan-run Minecraft servers in July. They also said they would forbid unauthorised Web3 derivative applications that make use of Minecraft assets. The businesses claimed in a post that NFT scarcity models that restrict asset owners’ access or functionality go against the “spirit of Minecraft” The ban has not yet been put into effect. The change had an effect on the advancement of NFT Worlds, an unofficial clone being developed on the Polygon Ethereum scaling network. Instead of being built on top of Minecraft, the game will instead be developed on its own platform.

Latest articles

Business owners are offering a $1,000 reward for information leading to the arrest of those removing the signs

News Tech: A prize is being offered by the proprietors of a company...

Gregg Berhalter expresses regret over US Soccer’s Iranian posts during tense situation

News Sports: Iranian media criticized the US men’s national team head coach Gregg...

Toddler cups recalled by ‘natural’ baby products company over lead poisoning risk

News Tech: The U.S. Consumer Product Safety Commission announced Wednesday that a manufacturer...

90% of the Sea Otter exhibition space was sold

In Science and Space: The Sea Otter Classic exhibition area was 90% filled...

More like this

Business owners are offering a $1,000 reward for information leading to the arrest of those removing the signs

News Tech: A prize is being offered by the proprietors of a company...

Gregg Berhalter expresses regret over US Soccer’s Iranian posts during tense situation

News Sports: Iranian media criticized the US men’s national team head coach Gregg...

Toddler cups recalled by ‘natural’ baby products company over lead poisoning risk

News Tech: The U.S. Consumer Product Safety Commission announced Wednesday that a manufacturer...

90% of the Sea Otter exhibition space was sold

In Science and Space: The Sea Otter Classic exhibition area was 90% filled...

Billionaire Bill Ackman Speaks Out About Cryptocurrency Regulation, Warns Sector Must Self-Regulate To Avoid Shutdown

News Tech: In a series of tweets on Saturday, billionaire Bill Ackman discussed...

Hurrah! save $200 on the Lenovo Flex 5 2-in-1 in Amazon’s amazing Cyber ​​Monday deal

News Tech: The Lenovo Flex 5 is one of the best 2-in-1 laptops...