Here’s Why Steam Doesn’t Embrace Crypto


Alex Dovbnya

Valve founder and owner Gabe Newell refuses to jump on the latest trends in the cryptocurrency industry, calling non-perishable tokens “sketchy”

Addressing the controversial decision to ban all games containing non-fungible tokens (NFTs) and cryptocurrencies on Steam, renowned digital video game distribution company Valve founder and owner Gabe Newell described them as “pretty sketchy” in a statement. recent interview with Eurogamer.

He believes that a lot of ‘illegal’ things happen behind the scenes.

The prominent US video game developer also had a problem with the volatility of cryptocurrencies:

And then the volatility of cryptocurrency meant that people had no idea what price they were actually paying.

Nevertheless, Newell admits that blockchain is “a great technology” despite dismissing its main use case:

He adds that the people currently operating in that space are usually not great actors.

Talking through the metaverse

Newell also rejected the meaning of the metaverse in another interview with PC Gamer, claiming it is rife with “get rich quick” schemes.

The businessman doubted the novelty of the concept, believing that it does not solve a new problem:

And it’s like, well… go to La Noscea in Final Fantasy 14 and tell me this isn’t a solved problem from ten years ago, not some fantastic thing you invent, you know.

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