Valve Bans Games Using Blockchain, Cryptocurrency, and NFTs From Steam

Valve has taken steps to ban games that use NFTs, blockchain, and cryptocurrency from their video game digital distribution platform, Steam.

By    Daniel

GAMES DELISTED FROM STEAM STORE

Valve has delisted games and banned others that use blockchain, cryptocurrency, and NFT technology from Steam in a recent move.

Valve has not revealed why they have banned them. However, it could be a pre-emptive strike to prevent future controversies.

According to SpacePirate_io, developer of Age of Rust, a game recently removed from Steam for being a blockchain game, Valve does not allow items that could potentially have real-world value on the platform.

You could make an argument that it’s an opportunity missed by Valve, as their hugely popular games, such as CS: GO and Team Fortress 2, could potentially benefit from selling hats and weapon skins through cryptocurrencies and NFTs.

On the flip-side, you can also understand the move due to recent scandals and scams that have seen developers promising an NFT marketplace only to run away with the money and leave gamers and investors with nothing.

The most recent was an NFT project called Evil Ape, whose developer promised a marketplace of 10,000 NFTs before disappearing with more than $2.5 million at launch.

The problem with cryptocurrencies, such as Bitcoin, Ethereum, Binance Coin, XRP, and NFTs, is that few people understand them.

Valve has recognized this, and to avoid any potential negative publicity and scams, has removed any of those games.

WHAT ARE NFTS?

An NFT (Non-Fungible token) refers to a non-replaceable unique digital collectible item.

In simple terms, you can sell a GIF, such as the original Nyan Cat GIF, which recently sold for an incredible $580,000, and that person who buys it becomes the sole owner of that GIF.

It’s not just GIFs, with recent NFT sales including artwork, videos, memes, images, music, text, and game code.

Back in March this year, Jack Dorsey, co-founder and CEO of Twitter, sold his first-ever tweet, which read, “just setting up my twttr,” as an NFT for more than $2.9 million.

NFTs are gaining attention as more companies, art galleries, and game companies recognize their potential.

HAS EPIC GAMES BANNED NFTS?

Epic Games CEO Tim Sweeney has recently announced via Twitter that the Epic Games Store is open to games that “use blockchain tech.”

It’s actually quite a reversal, as less than a month ago, in September, Sweeney tweeted that Epic Games would not allow blockchain games on their platform due to the whole field being “tangled up with an intractable mix of scams.“

Opinions can change over time, but with Sweeney’s reversal coming within weeks, it seems that Epic Games has decided to take advantage of Valve’s decision to ban the same games from Steam.

Will we now see NFTs in Fortnite? I don’t think so, as there are still many things to consider as introducing NFTs into a game would require compliance with relevant finance and age-restriction laws.

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