Jump to content

Welcome to ExtremeHW

Welcome to ExtremeHW, you must register to view or post in our community, but don't worry this is a simple FREE process that requires minimal information for you to signup. Be a part of ExtremeHW creating an account. 


Registered users can: 

  • Start new topics and reply to others.
  • Show off your PC using our Rig Creator feature.
  • Subscribe to topics and forums to get updates.
  • Get your own profile page to customize.
  • Send personal messages to other members.
  • Take advantage of site exclusive features.
  • Upgrade to Premium to unlock additional sites features.

Valve Bans NFTs from Steam


Recommended Posts

Original title: Gabe Newell Banned NFTs from Steam Due to 'Sketchy Behavior' and 'Out of Control' Fraud



In an interview with Rock Paper Shotgun, Newell noted that it's important to separate NFT technology from nefarious users. The concepts of digital ownership and shared universes are fine by themselves, he said, but he thinks that the bad actors in the NFT community outweigh any of the potential positives.


"The people in the space, though, tend to be involved in a lot of criminal activity and a lot of sketchy behaviors," he said. "So it's much more about the actors than it is about the underlying technology."


He further explains that these people aren't the kind Valve wants to do business with. To him, the space is filled with people who use NFTs as an opportunity to rip customers off or engage in money laundering.


Additionally, when Steam was accepting cryptocurrency as payment for games, the huge volatility that came with it was problematic for users. When it comes to purchasing everyday items, customers don't want the price to fluctuate so much. "Like, why did I spend $497 one day to buy a game, and the next day I spent 47 cents, what's going on here? Volatility is a bad thing in a medium of exchange," he explained.


Valve president Gabe Newell explains why Steam doesn't allow NFTs or cryptocurrency, citing that while the underlying technology isn't in a problem, bad actors use them for nefarious means.


Glad to hear this. If NTFs are not allowed on Steam, that will me a major barrier towards getting them into popular games. 



CPU: 3700x
RAM: XMP 3200 @3600
GPU: RX 6800
SOUNDCARD: Sound Blaster Z 5.1 home theater
MONITOR: 4K 65 inch TV
Full Rig Info
Link to comment
Share on other sites

I agree, I am also glad to hear this.  I'm not even sure what all this NFT stuff is all about, but from my understanding of it you're just paying for digital art basically in so many words.  It's bad enough that our games are no longer physical in any sense of the word.  It's bad enough that there's day one DLC's and stuff of that nature.  We don't need to be adding even more "nothing" that we're paying for.  If people want to buy NFT's, that's fine.  But please, powers that be, don't start putting these ridiculous things into places they don't belong.


As far as their quote on crypto though, I do think they're a little mislead.  And I quote, "Like, why did I spend $497 one day to buy a game, and the next day I spent 47 cents, what's going on here? Volatility is a bad thing in a medium of exchange,".  That right there tells me they weren't accepting crypto as a payment, but instead as an alternative payment for the USD.  If I spend 0.01 BTC on something, I've spent 0.01 BTC.  The price of the dollar has nothing to do with the amount of crypto you've spent other than if you want to exchange that crypto for another currency form.  It's like complaining about exchange rates of the Canadian dollar, or the Euro.  Another example would be holding crypto too though.  If I'm holding say 1 BTC, I'm not holding $40,000.  I'm holding 1 BTC.  The value of that 1 BTC doesn't matter until I try to exchange it for a different currency.  Stocks are the same way.  If you have 100 shares in Microsoft, you have 100 shares of Microsoft.  You don't have $29,700.  You have 100 shares.  If you sell half of your shares for roughly $15k today and tomorrow the price sky rockets, you still have 50 shares left.  You didn't magically lose money.



CPU: Ryzen 3600 @ 4.3GHz, 1867MHz IF
AUDIO: Fosi Audio 300w Desktop Subwoofer Amp
RAM: 32GB (2x16GB) GSkill DDR4-3600 @ 3733, 16-19-19-39
GPU: Ref Powercolor RX 5700XT @ 2050 / 1800
SSD/NVME: 1TB Mushkin Enhanced Pilot-E NVME
SSD/NVME 2: 3x 2TB Crucial BX500 RAID0
PSU: Silverstone 850w Gold
Full Rig Info



CPU: Phenom 9850
MOTHERBOARD: Asus M4A79 Deluxe
RAM: 8GB (4x2GB) Kingston HyperX DDR2-800
GPU: Sapphire Dual X HD6970 2GB
SSD/NVME: Crucial BX500 240GB
HDD: 2x Toshiba 3TB 7200RPM RAID0
Full Rig Info



CPU: Ryzen 5800x
GPU: MSI RX 6900XT Triple X
PSU: Seasonic Focus GX Gold 1000w
MOTHERBOARD: Asus ROG Strix B550-I Gaming
SSD/NVME: Silicon Power 512GB Gen3 NVME
HDD: 2x WD Black 2.5" 500GB RAID0
RAM: Mushkin Redline Black 32GB (2x16GB) DDR4-4000
Full Rig Info
Link to comment
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now

  • Create New...

Important Information

This Website may place and access certain Cookies on your computer. ExtremeHW uses Cookies to improve your experience of using the Website and to improve our range of products and services. ExtremeHW has carefully chosen these Cookies and has taken steps to ensure that your privacy is protected and respected at all times. All Cookies used by this Website are used in accordance with current UK and EU Cookie Law. For more information please see our Privacy Policy