Published on: 28/02/2022
Twitch streamer Asmongold applauds Valve’s move to remove NFTs from Steam
Asmongold, a popular Twitch streamer, has praised Valve CEO Gabe Newell’s move to withdraw NFTs from Steam. Asmongold has been outspoken in his criticism of NFTs and has slammed them several times in the past.
The legendary MMO streamer initially learned about Newell’s decision to restrict all NFTs from the video game distribution platform, Steam, during a February 26 stream.
In his original comments, Newell emphasized sellers’ frequently erratic behavior and the widespread fraud prevalent in NFT groups. “Thank you, Gabe. This is exactly what we needed [to happen],” he said.
Asmongold admires Valve’s decision
The 30-year-old streamer continued on to praise the video game behemoth’s reasoning. “He’s not banning them because he hates crypto entirely,” Asmongold explained. “It’s just that whenever 99-percent of NFT promotions are scams, then maybe we shouldn’t do them!”
Asmongold resumed his outburst, blasting anyone who allegedly buys NFTs or cryptocurrencies because of “their faith in the underlying product.” According to the streamer, most people acquire these digital things as a prospective cash grab in case their value skyrockets.
Asmongold is well-known for his relentless criticism of NFTs and cryptocurrency, frequently expressing his views on the ridiculousness of both the goods and their communities.
On Twitch, NFTs have faced significant resistance, with some of the most prominent characters, including Pokimane, Hasan, and others, all speaking out against many of the industry’s tactics.
Valve CEO unveils reason for NFTs removal
Steam prohibited blockchain-based games that used NFT and cryptocurrency in October of last year, warning that “applications built on blockchain technology that issue or allow exchange of cryptocurrencies or NFTs” would not be permitted on the site.
NFT has steadily made inroads into the world of video gaming. Since its implementation in the latter half of 2021, the highly contentious notion of NFTs has been heavily contested.
Recently, Newell, Valve CEO itself, revealed the firm’s stance on the controversial move.
In an interview with Rock Paper Shotgun, Newell stated that while the fundamental technology of distributed ledgers, as well as the concepts of digital ownership and connected universes, are all legitimate, one must distinguish the technology from the individuals that use it.
According to him, the NFT area is teeming with folks with whom one would not want to do business. Steam previously accepted cryptocurrencies as payment, but Gabe highlighted that this irritated customers, owing to the instability that accompanied Steam listings.
“They don’t want to find out that there’s tremendous volatility when they’re actually purchasing things day to day,” he said. “Like, why did I spend $497 one day to buy a game, and the next day I spent 47 cents, what’s going on here? Volatility is a bad thing in a medium of exchange.”
Nowell went on to say that the bulk of these transactions were phony, with “people repudiating transactions or using illegal sources of funds and things like that.” The issues, he claims, are not with the technology itself, but with the individuals who use it.
“That doesn’t say anything about the underlying technology, it’s just a reflection of the people right now who are viewing it as an opportunity to rip customers off, or engage in money laundering, or other things like that,” Newell explained.