From the point of view of the logo, neither of them. Both of them are not the best solutions for the logo. However, the old art looks better in terms of color and is more in line with the spirit of the game, but I always didn't like the way the text is written in it. The new logo looks too bright and contrasting, I think it would be suitable for Minecraft mod, but not as part of the VintageStory visuals.
This new art is good in its own right, it has a better game name, but for my design eye, it will be too much out of the "spirit of the game" because of its contrast and colors.