Steam updates its rules and guidelines today. The streaming service reveals that the site has removed all games that allow NFT and cryptocurrency trading and those that have blockchain technology.

Steam Bans Cryptocurrency and NFT

Steam has updated its onboarding page for Steamworks users and its partners with a message that says Valve will ban NFT trading games from the site.

Under the heading, gamers will see a new rule about what they should not publish on the site. It now shows that applications with blockchain technology that issue or allow NFT and cryptocurrency exchanges will no longer be allowed on the platform.

Game creators are now reporting that their games with NFTs have been removed by Steam. The Twitter account for the game "Age of Rust," where the players collect in-game NFTs, wrote that Steam blocked all blockchain games on the site, including their game.

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The "Age of Rust" Twitter account also stated that in Steam's point of view, items have value, and they do not allow items that can have real-world value on the site as it can encourage unwanted behaviors like gambling.

When the update went live, it revealed that there are numerous games on the platform that are currently allowing NFT and cryptocurrency exchange into its gameplay.

One game is "Mir4," which allows the gamers to earn cryptocurrency while they play despite the negative reviews saying that it is a boring game.

Outside of the update to the rules for Steam, Valve has not issued an official statement regarding its stance on NFT. According to NME, the company also declined to comment on the update.

The update comes after Valve announced that Steam will soon be 4K-capable and it will be named Steam 2.0.

Crypto Gaming and Creating In-Game Currency

Cryptocurrency has gotten a lot of attention these past few years. Blockchain networks are created to improve the industry. While the market is enticing new investors, game developers have begun building games based on the technology.

The games that these developers release are built upon crypto technology, and they use blockchain, according to Republic World.

Blockchain is a database that stores information by sharing them on a network of computers.

When a piece of information is added to the blockchain, it can't be removed anymore, making the whole network safe and secure.

Also, the database is available for all computers that are connected to it, making sure that there is no central control of information.

In traditional gaming, all of the digital assets like XP, skins, in-game currency, weapons, cars, characters, and more are owned by the game developers.

Meanwhile, in crypto games, the user owns all of the items that are acquired during the gameplay.

Crypto games implement the technology for two reasons. First, the developers can create the whole game on a blockchain. Second, the developers can use it for the in-game currency.

When the developers create the game using blockchain technology, every interaction within the gameplay is verified, and they are stores in the form of blocks.

When the developers create the game for in-game currency, NFTs can be used as their digital assets.

To make money off of it, players can own in-game assets and sell them for money to any gamer or collector that is interested.

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Written by Sophie Webster