NFT’s. None fungible tokens. A controversial topic right now to be sure. Companies and Crypto-bros keep pushing that these are the future, while it seems almost everyone else is rejecting them outright.

One company not pushing NTF’s and crypto is valve, who have recently banned Crypto and block-chain based games. There was recently some outcry for devs of one of said blockchain based games, “age of rust” spoke out about their disappointment in this decisions, who claimed that steams point of view was that steam didnt want “items that had real world value” on the service… which is a bit strange and personally I am going to call fowl on the devs here because valve themselves have games which have items with real world values.

In a recent interview with Rock Paper Shotgun, valve co-founder gabe newel clarified that he has no issue with owning something digitally or taking part in a shared universe, however the negatives associated with NFT’s far outweighed any positives.

At one point steam actually accepted bitcoin as a payment method for games, but this functionality was cut due to the volatility of the market. 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 was one problem, that sort of volatility was creating more pain for our customers than the value of having the option of using cryptocurrencies.”

With NFT’s, the problem is much more over people using them to engage in fraudulent behavior. Quote:

“With the actors that are currently in this NFT space, they’re just not people you really are wanting to be doing business with. That doesn’t say anything about the underlying technology, it’s just a reflection of the people right now who are viewing it as an opportunity to rip customers off, or engage in money laundering, or other things like that.”

Newel asserts that his issue is not with blockchain technology in general,but with the people using them in ways that impact players negatively. Steam banned NFT games back in october of last year, and they are not alone. Recently Square Enix confirmed that NFT’s would never be part of its popular MMO Final Fantasy 14 while unveiling the games 10 year roadmap.

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The post Gabe Newel banned NFT’s from Steam for being “sketchy” first appeared on Get2Gaming.

Reddit co-founder Alexis Ohanian has just weighed in with his opinion about the concept of Play-To-Earn games. The highly successful entrepreneur has expressed his optimism of the possibility, and personally believes the huge change to the gaming world will happen in the not so distant future.

This should come as no surprise for those familiar with Ohanian, as the industry figure has recently turned his business attention to blockchain and crypto-related projects.In a latest episode of Where it Happens podcast, Ohanian referenced the potential uses of blockchain tech and what it could mean for the future of gaming.

“90% of people will not play a game unless they are being properly valued for that time,” Ohanian claimed in the podcast. “In five years, you will actually value your time properly, and instead of being harvested for advertisements, or being fleeced for dollars to buy stupid hammers you don’t actually own, you will be playing some on-chain equivalent game that will be just as fun, but you’ll actually earn value and you will be the harvester.”

Why Do Play-To-Earn Games Use Crypto?

Generally, Play-To-Earn games use Crypto Tokens instead of regular in-game currency as players can then exchange their in-game earnings for real-world currency. As a result, the exchange is kept simple and effective which allows everyone across the globe to get involved. One major example which uses this model is Axie Infinity, where people can buy and sell Axies for RONIN cryptocurrency.

However, it should be noted that this doesn’t come without its issues. According to a Business Insider report, Axie’s in-game economy is already stumbling into some trouble, as players returns from the game are shrinking over time because gamers cash out their earnings instead of investing them back into the game. This could cause trouble for the game economy’s sustainability, especially when considering the $300 buy-in minimum which may cause gamers to be even more hesitant.

Despite this, other industry figures still continue to show their interest in the concept. Studios such as Take-Two, EA and Square Enix all seem to be lining up in anticipation to get on board, making Ohanian’s comments seem very much possible. What’d do you all think on the issue? After visiting our store and seeing what other innovations are happening to the gaming world, let us know down in the comments below!

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The post Reddit Co-Founder On Play-To-Earn Crypto Games first appeared on Get2Gaming.