HomeNEWSValve Boss Gabe Newell Calls NFTs "Super Sketchy"

Valve Boss Gabe Newell Calls NFTs “Super Sketchy”

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“The ways in which has been utilised are currently are all pretty sketchy. And you sort of want to stay away from that.”


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Despite ample proof that NFTs are nothing greater than JPEGs that may depart you inclined to scams, just a few builders have stood their floor about their integration into video games. Chief amongst them is Ubisoft, which not solely claims that we “don’t get” the idea, but additionally rewarded its personal staff with NFTs regardless of the inner pushback. Luckily most builders and entities inside the trade have voiced their issues towards the idea, with Valve’s Gabe Newell being the most recent.

Back in October final 12 months, the corporate let builders know that Steam is not going to be itemizing any video games constructed on blockchain know-how or that incorporate cryptocurrency and NFTs. Valve co-founder and president Gabe Newell has now voiced his private opinion on the topic in an interview.

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“The things that were being done were super sketchy,” he instructed Eurogamer. “And there was some illegal shit that was going on behind the scenes, and you’re just like, yeah, this is bad. Blockchains as a technology are a great technology, that the ways in which has been utilised are currently are all pretty sketchy. And you sort of want to stay away from that.”

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“We have the same problem when we’re accepting cryptocurrencies, 50 percent of the cryptocurrency paid for transactions were fraudulent, right? You look at that and you’re like, well, that’s bad,” he continued. “And then cryptocurrency volatility meant that people had no idea what price that they were actually paying. Yes, they were anchored to a cryptocurrency, but most people’s wages are not in cryptocurrencies.”

Newell is cautious of the sheer variety of scams and fraudulent actions which might be at present plaguing the crypto and NFT market. No firm would wish to affiliate itself with an idea that is continually checked out as a con artist’s playground.

“So they’re like, how come I just paid $498 US dollars for this product? And if the answer is, you know, that’s what happens when you have a highly volatile currency that you’re paying for. That’s like, today, you paid 99 cents for it tomorrow, you’re going to pay $498 for and people that make people super cranky. So it just wasn’t a good method. The people who are currently active in that space are not usually good actors.”

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