If there is a secret ingredient that binds together cryptocurrency, Web3 and the metaverse, you can probably find it in gaming.
Video games often spring from interests in fantasy and new technology, two concepts that also play a role in the rise of NFTs and virtual and augmented reality. Discord, a communications platform catering to gamers, has also become the de facto host for crypto communities.
Indeed, blockchain-based games like Axie Infinity, which let users “play-to-earn” crypto tokens, are gaining popularity and backing from major Silicon Valley investors. But the gaming sector itself is hardly 100% in support of crypto, the metaverse and Web3. Game development company Valve, and its widely-used PC gaming platform Steam, are notable detractors.
In October 2021, Steam quietly banned NFTs and blockchain technology from its platform, leaving money on the table for rival Epic — which swiftly announced that it would be “open” to games using NFTs and crypto.
Despite receiving a letter from blockchain game developers asking it to reverse the ban, Valve has remained firm. Users suspect that Steam is either responding to concerns that crypto and NFTs might be a “ponzi scheme,” or is trying to limit how its platform can be monetized. Valve has also indicated it is shifting resources away from VR to focus more on Steam Deck, a portable PC gaming device.
If the metaverse, blockchain gaming and Web3 take off as anticipated, it’s very…
