Damned. Good guy Steam is (somehow) back. The developer of an upcoming NFT-based PC game revealed in a tweet that Steam no longer allows games that are based on blockchain technology or that “issue or exchange cryptocurrencies or NFTs”. Indeed, Valve’s Onboarding rules page now says exactly that.
Tokens are not fungible digital assets that are the “property” of certain image files, and this property is recorded in an electronic ledger called “Blockchain”. The NFT scene is up famous for scammers who guarantee after the deposit of the money on bail, and there are several Cryptocurrency Projects in which the developers only expect the investors trust them handshake on the spit. Not to mention that NFTs (and cryptocurrency in general) Environmental disasters. But as long as top-class NFTs can potentially fetch sales prices of millions of dollars, Crypto Bros will continue to peddle the snake oil.
Steam’s formal ban on cryptocurrency games and NFTs was not entirely unexpected. On September 30th, NFT-based game developer Satoshis Games released announced that Valve wouldn’t let their NFT play Light nite be published on Steam. There was no explanation until today when the developers behind it Age of rust (another NFT game) explained that Steam does not allow games with “real value” on the platform.
Light nite is a game in which players can earn NFTs by playing the game which they can then sell on a Bitcoin marketplace. Similar, Age of rust has a mechanic where players can use NFTs to unlock certain types of in-game rewards. Since both games allow players to redeem digital assets for real value, they would conflict with Steam’s new stance against such features.
It’s pretty funny that Steam thinks NFTs have real value, but I’m not complaining. The less video games geared towards NFTs, the better off we are all. And apparently I’m not the only one who agrees. Steam’s main competitor is the Epic Games Store. CEO Tim Sweeney tweeted that the company “[not] Touching NFTs as the entire field is currently embroiled in a persistent mix of scams, interesting decentralized tech foundations, and scams.
Even if the technology itself wasn’t based on selling people on beachfront property in Florida, the NFT market is notoriously volatile. Last Junethe NFT market has plunged 90% since its peak.
Now that two of the world’s largest game distributors have rejected this particular mix of games and crypto, the future looks a little less bright for cryptocurrency and NFT-centric games.