After banning Age of Rust, Valve, the parent company of Steam, revealed its banning crypto games. Is Steam making a big mistake banning blockchain and NFTs in their games?
Are they just trying to prevent their publishers from cashing in?
Are they secretly planning their own crypto “STEAM” coin instead? It seems unlikely the company’s long term plan is to avoid NFTs.
As reported by game developer SpacePirate on Oct. 14, Steam has updated its guidelines for what content creators are allowed to publish on the platform. According to Steam, no applications built on blockchain technology that “issue or allow exchange of cryptocurrencies or NFTs” are permitted in its onboarding process for partners. The rule appears alongside guidelines prohibiting hate speech, sexually explicit images, and libelous or defamatory statements.
Though the new guideline would seemingly ban all traditional games from including content on crypto or NFTs, it has also reportedly stopped blockchain game developers from publishing to the platform. SpacePirate said their Age of Rust game was being removed, with others likely to follow.
“Steam’s point of view is that items have value and they don’t allow items that can have real-world value on their platform,” said the developer. “While I respect their choice, I fundamentally believe that NFTs and blockchain games are the future.”
The move could be financially disadvantageous to Valve as blockchain-based games grow in popularity. According to a recent report from DappRadar, unique active wallets connected to gaming decentralized applications reached a total of 754,000 for Q3 2021. Many blockchain games offer players the opportunity to earn real-world token rewards and trade in-game NFTs, providing a possible path to further crypto adoption.
However, Valve Corporation has previously targeted crypto and blockchain on its Steam marketplace. In 2018, the company removed a game that allegedly hijacked users’ computers to mine crypto. Valve originally announced it would accept Bitcoin (BTC) payments in 2016, but later stopped this practice, citing high fees and volatility.
Cointelegraph reached out to Valve, but did not receive a response at the time of publication.
Author
Chris Munch is a professional cryptocurrency and blockchain writer with a background in software businesses, and has been involved in marketing within the cryptocurrency space. With a passion for innovation, Chris brings a unique and insightful perspective to the world of crypto and blockchain. Chris has a deep understanding of the economic, psychological, marketing and financial forces that drive the crypto market, and has made a number of accurate calls of major shifts in market trends. He is constantly researching and studying the latest trends and technologies, ensuring that he is always up-to-date on the latest developments in the industry. Chris’ writing is characterized by his ability to explain complex concepts in a clear and concise manner, making it accessible to a wide audience of readers.
