Gabe Newell: “NFT or Metaverse doesn’t matter, it’s the bad guys behind them that matter”

Valve co-founder and president, Gabe Newell, offered his own take on NFT and the metaverse. These comments themselves were made by Gabe Newell after Steam decided to completely ban NFT trading and blockchain game projects a few weeks ago.

Accordingly, Steam’s move was warmly received by the community, but was criticized by blockchain game developers. This led to a larger controversy among game developers/publishers over the concept of ‘metaverse’.

In an interview with Eurogamer, Newell revealed Valve’s decision was made after the company found NFT and blockchain activity in some games to be ‘very suspicious’. While Gabe Newell insists blockchain technology is great, the way the technology is used is not so rosy.

Steam’s “boss” later asserted that the same problem exists in the use of cryptocurrencies.

Newell points out that “50% of cryptos paid out for transactions are fraudulent” and that the volatility of crypto also means that users don’t know how much they are paying for these things. Steam.

“Today, you paid 99 cents for it,” Newell explained, “Tomorrow, you’ll pay $498 for it and that makes people very frustrated. So it’s not a method (bar). math) well. People who are currently active in this field are often not people with good intentions.”

Earlier, in an interview with PC Gamer, Gabe Newell also said that metaverse projects are “too explosive” about their features for the purpose of … making money to get rich.

“There are a lot of get-rich-quick schemes around the metaverse,” the Steam mogul said when asked if the metaverse trend is helping to propel technology forward.

“Most of the people who are talking about the metaverse have absolutely no idea what they’re talking about. And they never seem to have played an MMO. They’re like, ‘Oh, you’re going to have an avatar with a picture of it. this customizable”,

According to Gabe Newell, the features that many metaverse projects are trying to ‘promote’ actually appeared a decade ago, instead of ‘something cool just invented’.

“It’s clear that the gaming industry has been exploring these technologies for a long time. It would be interesting if anyone who came later would come up with a lot of new features, instead of setting the goal of attracting a bunch of them. people give them a bunch of money for magical reasons. But you know, in the end, it’s the customers and the useful technologies that win out, so I’m not too worried about that.”

Refer to Kotaku