Gabe Newell’s thinking on NFTs.
Gabe Newellfounder and CEO of Valverevealed his opinion on cryptocurrencies and NFT when applied to games.
In an interview with Rockpapershotgun, validated NFT technology that allows you to create digital representations. However, he also said that industry actors tend to be involved in criminal or ambiguous activities.
To validate the technology behind NFTs, Newell said:
“You have to separate the technology versus which actors are using this technology. It’s like you’re a chemist looking at nitrocellulose, and thinking, “Oh yeah, we can do some really cool stuff” … The technology behind Distributed Ledgers, the notion of digital ownership, and shared universes are all quite reasonable“.
However, this appears to conflict with community views on the use of NFTs and the stance Steam has taken regarding games based on these technologies.
Newell’s view of people currently involved in the NFT industry is less positive. In this regard, Newell stated:
“People in this space, however, tend to be involved in a lot of criminal activity and a lot of ambiguous behavior“.
Newell also talked about Steam’s problem with cryptocurrency payments for its services. He was one of the first to include bitcoin as a payment method, but suspended this option in 2017 due to rising fees and bitcoin price volatility. Newell also touched on this topic, stating:
“At one point Steam accepted cryptocurrencies for payments. But there was the problem of volatility. Volatility is a bad thing in a medium of exchange.“.
Source: Bitcoin.com.
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