As a reminder, the term NFT refers to non-interchangeable tokens - that is, cryptocurrencies in the blockchain that cannot be exchanged for each other, as is the case with ethers, bitcoins and other coins. That is, if you buy 1 ETH today and tomorrow, it will be the same coin. But with NFTs this won't work, because each one has something different and unique attached to it - whether it's a "cryptopunk" picture or an artist's song.


NFTs are often used as a collector’s item in games. Accordingly, in this case, they are assigned some equipment items, skins or other details in the virtual world. To give an example: in the Etherium-based game Decentraland, such tokens represent the equivalent of a certain territory within the game world.

Screenshot of Decentraland

Representatives of the Steam platform are not happy with this concept. Therefore, they have banned any product that supports NFT tokens from their shop.

Steam does not support cryptocurrencies

In response, legal advocacy group Fight for the Future has published an open letter to Valve, the owner of Steam, demanding they not block the placement of cryptocurrency and NFT-themed games. The appeal is also supported by NFT platform Enjin, Blockchain Game Alliance (BGA) and 26 blockchain game development studios.

Popular cryptocurrencies

Here’s a quote from a letter published by Decrypt. In it, representatives of the blockchain community share their view of the situation.

Valve, WEB 3.0 games are a rapidly growing and exciting category of entertainment that has a place in the Steam ecosystem. Please consider changing your stance on this and allow tokens – and more broadly, the use of blockchain technology on the Steam platform. Don’t ban blockchain-based games on Steam.

Here, members of the gaming community reminded the company that such games have a dramatically increasing fan base. Which means in theory this trend will be beneficial for Valve itself.

The organizations that signed the letter hope that the appeal will encourage the company to dialogue and influence its opinion on the crypto innovation. Most interestingly, Valve representatives have not yet commented on the aforementioned ban. Recall that it appeared among the official rules for platform developers earlier this month.

NFT-series Cryptopunks on the streets

One of Steam’s competitors, the Epic Games Store (EGS) platform, on the other hand, is willing to go after blockchain game developers. This was announced on Twitter by EGS CEO Tim Sweeney.

While there are no cryptocurrencies in Epic Games games, we welcome innovation in the areas of technology and finance.

So why isn’t Steam ready to accept NFT yet? Fight for the Future believes that unique tokens could hurt the ecosystem of the marketplace, which earns money from distributing in-game items in its projects like Counter-Strike: Global Offensive or DOTA 2. These items can’t be taken outside of Steam’s limited ecosystem, but adopting NFT could significantly reduce demand for them.


We believe that the creators of Steam have indeed prohibited interaction with NFT token-enabled games because of their own financial interests. The popularity of this trend could leave Valve out of the loop and have a significant impact on the popularity of in-game items in the company's shop. However, it appears that in the future, unique, non-interchangeable tokens will also make this area more decentralised. So some gaming platforms will surely replicate the developer's Steam experience.


What do you think about it? Share your opinion in our Millionaire Crypto Chat. There we will discuss other developments related to the decentralisation and blockchain industry.