One of the largest gaming online platforms announced to stop accepting crypto, NFTs, and any blockchain-related transactions. This is a huge deal for gamers who want to play to earn and push new innovations away to make the platform isolated. Why is Steam doing this?
Who is Steam?
They are one of the largest online video games distributors. The earliest Bitcoin adopters were using them to give away Bitcoin in 2010 for 5 Bitcoin to whoever bothered to click the faucet link! As of today's valuation of Bitcoin, it is worth $300K just to click the link!
Cryptocurrency used to trade in the game
If you play games on Steam, you may make lots of other players. Some embrace crypto and will pay through as a payment method. Steam did not care about it.
Monopoly ideas about Steam Coin
When the Steam coin was introduced, it acted as a game token to buy games through the platform. However, it does not attract more gamers to buy it or just become another credit scam where gamers need to exchange their money tokens to buy new games.
NFTs gaming trend
With a new trend from NFTs, gamers are looking into more exclusive games that are limited edition and more unique experiences from developers. NFTs provide another way to distribute games exclusively to individual gamers. It can increase the game valuation both through monetary rewards by owning the game and provide exclusive membership to gamers.
Play to earn model
The blockchain game can also provide the experience of earning money through playing the game. Whether it provides through their own cryptocurrency or uses other existing cryptocurrency. It becomes a new way for gamers to finally make their income directly through gaming rather than pay off through third parties like competition or advertising.
The gaming industry is changing along with crypto adoption
Crypto makes gamers become more valuable because they can earn income through gaming. Unlike in the past, you need to become a top gamer to earn rewards. The gaming itself will also change to become more accessible to all gamers.
In conclusion
The gaming industry will evolve to adopt crypto as gaming culture is part of crypto. Decentralized gaming is coming with many products that run on the blockchain. NFTs will make gaming more accessible and valuable in the future.
NFT games still exist? Given how almost 90% of all NFTs depreciated I'm shocked that people still develop and play NFT games. If anyone is interested in money then it's better to pay attention to common gaming. Today it's not a problem to obtain decent gaming solutions with https://live.beter.co and there's gonna be no need for NFT and other doubtful practices.