- Valve just made an important decision that will seriously affect certain games.
- A ban on blockchain technology that exchanges of NFTs or cryptocurrencies.
- NFTs have been continuously used to scam people out of millions of dollars.
- The company hasn't given an explanation for this whole situation just yet.
Due to a recent official decision, games that feature blockchain technology that allows the exchange of NFTs or cryptocurrencies will no longer be allowed on Steam.
In short, NFTs are unique digital receipts (stored on a blockchain, a sort of irreversible ledger database) that are typically correlated with ownership of a jpg file or some other piece of digital media.
These are typically purchased with cryptocurrencies such as Bitcoin or Ethereum, and also blockchain transactions, which can be sold for US dollars and other national currencies at exchanges.
Valve pulls the plug on NFTs and crypto
According to a new rule on the steam partner login page, Valve says distributors should not publish, blockchain-based applications that issue or allow the exchange of cryptocurrencies or NFTs.
The company hasn’t explained why it’s banning the above-mentioned from Steam, but the decision doesn’t appear to come as a result of the recent scandals or controversies around blockchain tech:
NFTs have been used to scam people out of millions of dollars in exchange for what amounts to a receipt for a JPG, it led to the theft of art designed for other games.
Not to mention the fact that the environmental cost of blockchain ledgers remains a controversial topic.
A series of recent tweets belonging to Age of Rust developer SpacePirate sheds a bit more light on this whole situation.
The game assigns NFTs to unique items and gear, as well as missions. He mentioned that the company was notified that Steam would be removing all blockchain-based projects, including Age of Rust.
Furthermore, SpacePirate says that Steam’s ban on NFTs and cryptocurrency is an extension of a general ban on items that have a real-world monetary value.
Valve hasn’t yet made a statement that would clarify its reason. On September 30, the CEO of Satoshis Games said that their blockchain-based game Light Nite was pulled from Steam, but didn’t elaborate on why except to say that Steam will not be shipping crypto or NFTs games.
One popular opinion would be that the main reason is the legal trouble the company got into in 2016 failing to contain gambling on CS:GO skins.
At that time, Valve banned seven players for intentionally losing a match in order to win thousands of dollars worth of CS:GO skins.
How do you feel about this whole situation? Share your opinion in the comments section below.