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Cryptocurrency: Valve Bans NFTs, Blockchain Games on Steam

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Valve’s plan to remove all games from Steam that use blockchain to exchange cryptocurrencies and non-fungible tokens (NFTs) raises some questions about the future of NFTs in the video game industry. While this is a fairly harsh stance on Valve’s part as Steam is by far the largest digital distribution platform for PC gaming, rival Epic has made it known that it was “open” to the idea of ​​games using NFTs, Although the clear rules haven’t been made public.

According to a report in The Verge, the new policy change comes in the form of a new rule that has been added to Valve’s list of things developers can’t publish to Steam. The rules state that “programs built on blockchain technology that allow or permit the exchange of cryptocurrency or NFTs” are not permitted on video game stores.

Age of Rust – a game that offers NFTs – developer SpacePirate explained on Twitter that the policy reflects Valve’s broader approach to items on its platform, that they should not have real-world value. He goes on to say that he “fundamentally believes”[s] That NFTs and blockchain games are the future.”

Epic Games CEO Tim Sweeney was quick to react to Valve’s announcement, where he positioned Epic as a platform that “welcomes new innovation”, despite the apparent lack of NFTs and crypto within the platform. “The Epic Games Store will welcome games that use blockchain technology, provided they comply with relevant laws, disclose their terms and are age-rated by an appropriate group,” Sweeney tweeted.

Now, with NFT or crypto-based mechanics not very popular in Steam-hosted games in the first place, the idea of ​​player ownership of in-game assets through NFT allocations has recently been introduced in titles such as Age of Rust and others. has been popularized with. .

Outside the realm of gatekeepers such as Steam and Epic, there are NFT-focused games that have gained tremendous popularity despite being available on the web – in the case, Axi Infinity, an NFT-based online video game developed by Vietnamese studio Sky Mavis, boasting Two million daily players’ viewership.

While the policy change could dampen hopes of widespread adoption for companies like Sky Mavis, its owners don’t risk being at the mercy of publishers and the App Store.


Interested in cryptocurrency? We discuss all things Orbital with WazirX CEO Nischal Shetty and WeekendInvesting founder Alok Jain on the Gadgets 360 podcast. Orbital is available on Apple Podcasts, Google Podcasts, Spotify, Amazon Music and wherever you get your podcasts.

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