Gabe Newell explains why Steam banned NFTs

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Amidst bumper acquisitions and a multitude of mega new releases, NFTs have garnered many headlines across the industry in 2022 – from big publishers like EA and Ubisoft toying with the controversial blockchain technology to flashpoints like Team 17 quickly embracing it then having to deal with the immediate fallout.

Back in October, Valve made a stand by banning all blockchain games from its Steam platform, updating its policy documents to reflect the change. The move was well-received by the wider community, though the developer of Age of Rust – one of the games impacted by the new policy – went into a bit more detail, claiming that Steam didn’t want to allow items of real-world value on its store.

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