Valve removes all blockchain-based games and NFTs from Steam platform

As per the newly updated rules, Valve is banning any applications built on blockchain technology that issue or allow the exchange of cryptocurrencies or NFTs.

Valve, which is one of the popular game publishers and distributer, is removing all the games using blockchain from its 'Steam' platform. The company will also not allow users to exchange NFTs or any other cryptocurrency on its platform. This comes at a time when major companies are adopting the blockchain or cryptocurrency, and games built on blockchain are getting popular. Interestingly, Steam was one of the first few platforms to support bitcoin for payments at the storefront but stopped it later in December 2017.

Blockchain-based games use decentralized technology and distributed shared resources, NFTs (non-fungible tokens) allow you to buy and sell ownership of unique digital items and keep track of who owns them using the blockchain. While Valve's response has been to completely ban titles using blockchain, competitor Epic stated that it was "open" to the idea of games that use blockchain or any other new technologies, though rules and restrictions aren't clear yet. 

"Epic Games Store will welcome games that use blockchain tech provided they follow the relevant laws, disclose their terms, and are age-rated by an appropriate group. Though Epic's not using crypto in our games, we welcome innovation in the areas of technology and finance," tweeted Tim Sweeney, CEO of Epic Games. While he is open to blockchain technology in games, he didn't seem much interested in the NFTs.