What Was The Reason For NFTs Being Banned From Steam?

Digital currency fluctuations are a problem for NFTs. What Was The Reason For NFTs Being Banned From Steam?

What Was The Reason For NFTs Being Banned From Steam?

Even though the company had previously taken a stand on NFTs and digital currencies on Steam. And it was blocking games that had blockchain technology. The company’s chairman and co-founder, Gabe Newell, now explains why the decision was made. By saying that the biggest problems are digital currency fluctuations and the actors behind the NFTs.

In an interview with Rock Paper Shotgun , Newell noted that it is important to separate NFT technology from evil users. The concepts of digital ownership and shared worlds are good in themselves, he said, but he thinks bad-tempered actors in the NFT community are more important than the positives.

People in the industry are often involved in many criminal activities and many abnormal behaviors. So it’s more about the actors than the underlying technology.

Related: Steam Deck Will Be As Impressive As The Iphone, Gabe Newell

He also explained that these people are not the kind of people he wants to trade with. According to him, the gaming industry is full of people who use NFT as an opportunity to defraud or engage in money laundering.

In addition, when Steam accepted digital currency as payment for games. The huge fluctuations that came with it were problematic for users. When it comes to buying everyday items, customers do not like the price to fluctuate so much. Newell explained:

For example, why did I spend $ 497 a day to buy a game and the next day I spent 47 cents, what is going on here? Fluctuations in the means of trade are a bad thing.

Related: Why Last Of Us Actor Troy Baker Canceled His NFT Programs?

He also said that the vast majority of encrypted transactions on Steam were fraudulent. While scams are not something that can be completely eliminated, ideally, scams should cover only a few percent of all transactions. However, he said fraud accounted for half of digital currency transactions, “out of control, right?”

On the concept of digital ownership and Metawares, Newell introduced Final Fantasy 14 in a separate interview with PCGamer . He explained:

Most people who talk about MetaTracks have absolutely no idea what they are talking about and have apparently never played an MMO. “Oh, you’ll have this customizable avatar,” they say.

And so. Go to La Noscea in Final Fantasy 14 and see that this is a problem solved a decade ago, not the amazing thing you invented.

Source: IGN

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