Here’s why Steam won’t embrace crypto
Valve founder and owner Gabe Newell refuses to jump on the latest trends in the cryptocurrency industry, calling non-fungible tokens ‘shady’
While addressing the controversial decision to ban all games that involve non-fungible tokens (NFTs) and cryptocurrencies on Steam, the well-known digital video game distributor, Valve founder and owner Gabe Newell, described as “fairly sketchy” in a recent interview with Eurogamer.
He thinks there are a lot of “illegal” things going on behind the scenes.
The prominent American video game developer also took issue 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 “great technology” despite the rejection of its primary use case:
He adds that the people who are currently active in this space are generally not big players.
Talking about the metaverse
Newell also dismissed the importance of the Metaverse in another interview with PC Gamer, saying it’s full of “get-rich-quick schemes.”
The businessman wonders about the novelty of the concept since he believes that it does not solve any 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 fabulous thing that you’re, you know, into. inventing.