• The legitimacy of blockchain games is still being questioned.
• Valve has added a rule to their publishing list that includes blockchain games.
• Epic Games Store will accept blockchain games but doesn’t feel confident about backing NFTs due to their speculative nature.

Blockchain’s utility and advantages are recognized beyond finance. Blockchain has been created as a byproduct of gamification, which mimics the mainstream experience but also includes an economic aspect. Because it opens up new options for players, NFTs were one of the catalysts for the gamified finance boom. However, the mainstream gaming industry is divided on this phenomenon.

How to Lose Capital

Steam, a popular game site that is non-agnostic and hosts more than 24 million users, recently added a new rule to ban blockchain games from its store. Steam also modified their “Rules and Guidelines” to include blockchain games, arguing that games that “issue or allow the exchange of cryptocurrencies or NFTs” are banned.

The “update” was reported by SpacePirates, who were banned from publishing a game on Steam; however, the date of the platform guidelines is yet unknown. Although Steam states that blockchain games will not be accepted because they are real-world apps, Steam’s in-game skins have enabled new economies to emerge from games like CS:GO.

Ledger Insights highlights the fact that NFTs, aside from their highly speculative and scammy nature, could disrupt Valve’s business model. Moreover, NFTs could “sidestep” Valve’s payment gateway, decreasing its bottom line.

Epic Gaming Opens to Blockchain Gaming

Epic Games, who are best known for the multi-million dollar, Gen Z game Fortnite, told The Verge that the company is “open” to accepting games that “support cryptocurrencies” and NFTs. This goes against the wishes of Valve who allegedly wants to keep it safe from scammers.

Epic did note that blockchain games are required to “comply with financial laws” and “have appropriate age ratings,” possibly to avoid scamming users. In a tweet, Epic’s CEO, Tim Sweeny, highlighted that, while the company is open to blockchain, they are not interested in NFTs. He argued that they “aren’t touching NFTs,” focusing mainly on the ‘scammy’ nature.

Tweet (NYSE:) User Thread Guy emphasized the fact that Fortnite sets a precedent in what’s possible in the metaverse. He most likely referred to the concert hosted by Travis Scott, Arianne Grande and which attracted millions of players. The entanglement blockchain and centralized companies like Epic may create an equally influential game for NFTs.

Sweeny stated that Epic is open to innovation. He said that Blockchain brings new models into the finance and gaming space. However, it’s not good or bad for this space. Fortnite may not be involved in NFTs despite offering skins for players.

Flipside

• Epic’s blockchain approach could be a response to their Apple (NASDAQ:) lawsuit, which they ultimately lost.
• Projects such as Enjin could overtake Epic or Valve if they don’t adhere to the growing demands of this new cohort of users.

Blockchain Games Make a Leap

DappRadar reported that Axie’s blockchain network registered the second highest number of transactions in Q3. What’s more, Axie raised $152 million in a new series of funding, grounding the game as a disruptor in the gaming industry.

What’s certain is that companies such as Epic and Valve don’t need blockchain to generate revenue. They are actually the opposite of centralization and decentralization which NFTs seek to solve. However, the budding nature of NFTs and blockchain as an industry opens opportunities for scams that ultimately hinder the space’s mainstream positioning.

Web 3.0 has become a reality, and Facebook (NASDAQ 🙂 is working toward the metaverse. This makes blockchain useability even more crucial. SpacePirate argues that Valve’s decision is a “setback for all,” although some might consider it an opportunity to no longer rely on such centralized entities to reach new consumers.

What are the reasons to care?

The emergence of Blockchain Gaming is increasingly interconnected as it targets digital natives. These will be the primary users for blockchain technology. Epic’s acceptance of NFTs would be an important catalyst for widespread adoption. It would allow interaction with whole generations.

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