- Steam has officially prohibited any “blockchain-based apps that issue or facilitate the trading of cryptocurrencies or NFTs.”
- Steam’s latest move is most likely needed in order to safeguard its customers from any fraud.
Steam, an online platform from game developer Valve has revised its game distribution agreement to include a ban on any games built on or featuring blockchain technology, as well as games where players may trade cryptocurrencies or NFTs.
“applications built on blockchain technology that issue or allow an exchange of cryptocurrencies or NFTs.”
Age of Rust, an indie game, has been banned from Steam, with creator SpacePirate Games alleging that it was deleted because it was labelled as a blockchain game. The game is characterized by this manner because it pays players with NFTs and Bitcoin for completing in-game puzzles.
The creators stated that they contacted Steam about the NFTs in their game, but it was nonetheless withdrawn from the store.
“We chose to be upfront about blockchain gaming & NFTs. As a result, we finally lost the battle with Steam. While I’m disappointed for Age of Rust being removed, the point is more to the fact that Blockchain games as a whole are going to be removed. This is a setback for all.”
The thread also stated, “Steam’s point of view is that items [NFTs] have value and they don’t allow items that can have real-world value on their platform. While I respect their choice, I fundamentally believe that NFTs and blockchain games are the future.”
Valve hasn’t said why it’s banning NFTs and cryptocurrencies from Steam, but it doesn’t appear to be related to any of the recent blockchain-related scandals or controversies: Individuals have been cheated out of millions of dollars using NFTs in exchange for what amounts to a receipt for a JPG., it’s led to the piracy of art created for other games, and the environmental impact of blockchain is still a hot topic.
One probable justification for Valve’s decision to prohibit NFTs and cryptocurrencies is the legal issues the business faced in 2016 when it failed to regulate CS: GO skin gambling. Valve once banned seven players for losing a match on purpose in order to earn CS: GO skins valued thousands of dollars. After that, Valve issued a rare statement, stating that professional CS: GO players should not gamble, associate with gambling companies, or disclose information that might affect CS: GO betting.
However, the change may have an impact on certain game developers, Steam’s decision was most likely made to protect its consumers from potential frauds. It would take a significant amount of manpower to properly analyse all new projects and their cryptocurrency and NFT-related features.