Gabe Newell Explains Why Valve Banned NFTs From Steam
NFTs are proving to be a very unpopular addition to gaming, and now Gabe Newell has revealed why Valve banned NFTs on the Steam platform.
By 
Daniel
WHY DID STEAM BAN NFTS?
Gabe Newell, co-founder and president of Valve has told Rock Paper Shotgun in an interview why he is against NFTs and why Valve chose to ban them and cryptocurrencies from Steam.
Valve removed games that integrated cryptocurrencies and NFTs from Steam last year, whereas Epic Games and other platforms chose to wait for feedback before deciding.
In the Rock Paper Shotgun interview with James Archer, Newell states that Steam once “accepted cryptocurrencies for payments. And it turned out that it just made customers super mad.”
As far as Newell says, the problem is that the NFTs come with “criminal activity and a lot of sketchy behavior.”
Newell says that cryptocurrency adds a lot of confusion and volatility to the video game market.
He adds that users could “spend $497 one day to buy a game, and the next day I spent 47 cents.”
Unfortunately, when games on Steam used NFTs and cryptocurrency, Newell says that the “vast majority of those transactions, for whatever reason, were fraudulent.”
Gabe Newell and Valve will not permanently determine the future of NFTs.
However, for many, it’s a positive sign that the world’s largest video game digital distribution platform is looking after the interest of its users rather than seeking quick riches.
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Valve Bans Games Using Blockchain, Cryptocurrency, and NFTs From Steam
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Fueled by a passion for gaming and the ever-evolving world of gaming news, Daniel loves connecting with seasoned and new players to bring games to life on the page, exploring their narratives and gaming trends. A self-published fiction and fantasy author, Daniel has nearly 20 years of experience writing gaming news and a love for storytelling that drives his enthusiasm to deliver breaking news, in-depth analysis, and industry innovations. You will find him in-game as "Windfell."
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