Steam boss boldly stated: “Many NFT titles are deceiving customers”

Valve boss Gabe Newell has made it clear his personal views on blockchain games on Steam.

Valve president Gabe Newell further reinforced his company’s anti-crypto stance by bluntly stating that NFT titles are “defrauding customers”.

According to president Gabe Newell, half of all cryptocurrency transactions on the Steam video game platform were fraudulent before the company decided to remove Bitcoin from the payment option.

Sharing with PC Gamer, Newell said:

“We had a problem when we started accepting cryptocurrency as one of the payment methods. 50% of those transactions are fraudulent, which is a staggering number and we don’t want to take on this number of customers.”

Previously, Steam officially accepted payments in Bitcoin in April 2016, but “killed Bitcoin” in December 2017, citing the volatile price of the cryptocurrency and the high transaction fees on the Bitcoin network. red.

Newell further stressed that Bitcoin’s price curves are unpredictable, so they are “a complete nightmare” to use for transactions, as a game could be worth $10 today but back to $100 tomorrow.

In a separate interview with Eurogamer, the Valve head noted that the volatility of cryptocurrencies means customers don’t know what price they’re actually paying. They’ve stuck with crypto, but most people’s wages aren’t paid in crypto.

Valve shocked the world at the end of 2021 with its decision to ban the release of games built on blockchain technology and not allow cryptocurrency exchanges and NFTs on its Steam platform.

In recent interviews, Newell has echoed that view, repeatedly emphasizing that customers are being led by NFT games and advising people to stay away from them immediately.

However, just 2 weeks after Valve issued the above ban, there were 29 blockchain gaming companies sending “letters” to convince Valve to rethink. Steam is the largest digital distribution platform for PC titles, attracting 17-24 million daily users. After the blunt ban and with today’s “shocking” statement from the head of Valve, what judgment will be released next?

(Refer to Coin68)