Gaming Store Steam Banned Crypto Games Built On Blockchain

The gaming store Steam banned crypto games and apps built on the blockchain while game publisher Epic said it will welcome them, so let’s read more in our latest crypto news.

The news came after the online gaming store Steam announced it will ban applications built on blockchain technology that allow the exchange of cryptos and NFTs. Epic which is a huge competitor to Steam said that the company is open to games that support crypto or blockchain-based assets. Epic CEO and founder Tim Sweeney said:

 “Epic Games Store will welcome games that make use of blockchain tech provided they follow the relevant laws, disclose their terms, and are age-rated by an appropriate group.”

He added that while Epic is not using crypto in the games, they are welcoming innovation in areas of technology and finance. Epic said that it will be willing to work with early developers in the world of NFTs as well. Epic makes the game Fortnite which has an in-game currency called V-Bucks and in 2019, Sweeney said that the privacy coin Monero has been added to the list of accepting payments for the Fortnite merch store but now the option has been removed. Steam is the biggest digital distributor of games in the PC world as users can buy and upload games via the platform. Valve didn’t quite explain why it banned the blockchain-based games as well.

Epic Games Store will welcome games that make use of 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. https://t.co/6W7hb8zJBw

— Tim Sweeney (@TimSweeneyEpic) October 15, 2021

Amy Wu, a partner at venture capital firm Lightspeed wrote that Steam’s decision was expected:

 “Web2 centralized platforms get a cut of all value generated from its ecosystem. Blockchain circumvents that and decentralizes value back to builders and users.”

Gaming developers like Age of Rust that were kicked off Steam also criticized Valve:

 “I fundamentally believe that NFTs and blockchain games are the future.”

1/ Valve banned blockchain games from Steam yesterday. It’s not surprising. Web2 centralized platforms get a cut of all value generated from its ecosystem. Blockchain circumvents that and decentralizes value back to builders and usershttps://t.co/vkE2RtZ8OI

— Amy Wu (@amytongwu) October 16, 2021

Developers that wanted to publish the blockchain-based games via Epic will have to wait now as the developers’ self-publishing feature is still in beta. The company is trying to position itself as the leader in the future of blockchain technology and the gaming world if there’s a future for legacy gaming marketplaces.

As recently reported, The Axie Infinity game is airdropping $60 million worth of AXS governance tokens to the early eligible players and the holders can now stake their tokens in the network with a $150 million worth of rewards planned for distribution in the first month. Axie Infinity became the biggest player in the crypto gaming space and the game exploded in popularity this summer especially and now the project is rewarding the supporters by airdropping some $60 million worth of governance tokens as the new staking feature rolls out.