Steam would block cryptocurrency and NFT games

0

Join the leaders of online gaming at GamesBeat Summit Next on November 9-10. Learn more about what comes next.


Valve is reportedly blocking cryptocurrency and NFT games on its Steam digital distribution network, according to SpacePirate Games, developer of Age of Rust.

The studio said on Twitter that Valve was going to remove all of these games from the platform, based on a screenshot of the rules and guidelines from Steam developers. He said games based on blockchain technology that issue or enable the exchange of cryptocurrencies or NFTs could not be distributed on Steam.

“Steam’s point of view is that Items have value and they don’t allow Items that can have real value on their platform,” the developer said.

Online seminar

Three great investment professionals explain what it takes to finance your video game.

Watch on demand

Valve has yet to comment on the post. The company may be concerned about gambling laws in Washington state, where Valve is based. Valve could be concerned about a 2018 ruling by the federal appeals court that upheld a ruling that the virtual chips for the Big Fish Casino social casino game were classified as a ‘thing of value’ under the law. from Washington.

This meant that gambling was considered an illegal gambling operation. There are other successful NFT games on the market such as Axie Infinity which allows players to buy and sell digital characters at a profit. Sky Mavis, the maker of Axie Infinity, has raised $ 153 million for a valuation of $ 3 billion. Such a move could have a big effect on a company like Sky Mavis, but the company doesn’t distribute Axie Infinity on any app stores. It has built an audience of two million daily users even though it is only available through the web. Hence, he avoids gatekeepers like Steam.

Still, Valve’s decision could have a real effect on the market, as many companies are on the verge of whether to make NFT games. NFTs use the transparent and secure blockchain digital ledger to authenticate unique digital items. These items can then be sold for higher prices at auction. This has been a good way for Sky Mavis to generate income and share the profits with its players.

GamesBeat

GamesBeat’s credo when covering the gaming industry is “where passion meets business”. What does it mean? We want to tell you how much news matters to you, not only as a decision maker in a game studio, but also as a game fan. Whether you read our articles, listen to our podcasts, or watch our videos, GamesBeat will help you learn more about the industry and enjoy participating in it.

How will you do this? Membership includes access to:

  • Newsletters, such as DeanBeat
  • The wonderful, educational and fun speakers at our events
  • Networking opportunities
  • Special member-only interviews, discussions and open office events with GamesBeat staff
  • Chat with community members, GamesBeat staff, and other guests on our Discord
  • And maybe even a fun prize or two
  • Presentations to like-minded parties

Become a member

Share.

About Author

Leave A Reply