One of the things that has dominated the conversation about new technologies in recent months and years is the use of cryptocurrencies and everything associated with them. Being such a new and intangible concept, it’s understandable that it has detractors, and it seems Valve chief Gabe Newell is one of them. Today he tells us his reasons.
Speaking to the PCGamer portal, Newell was asked about his opinion on crypto. From the privileged position he occupies as CEO of Valve, the entrepreneur and video game legend was absolutely emphatic: “A lot of people who operate in this space are people who you don’t want me to have contact with your customers“.
“We had issues when we started using crypto as a payment option. 50% of transactions were fraudulent, which is crazy. These were consumers we didn’t want to have on our platform,” Newell clarified. These 50% of fraudulent transactions, as he puts it, show a big problem within the scene.
Another issue that stands out as unattractive is the fluctuation in the price of cryptocurrencies. According to the Half-Life creator, people weren’t happy that game prices can vary so much overnight, defining this situation as a nightmare from his point of view.
Of course, references to NFTs could not be missing from the industry veteran’s thinking. “There’s a difference between what this tech scene should be and what it is, and that’s where we were in terms of blockchain and NFT-based things: there were so many that is to defraud consumers. So we were like, ‘Okay, that’s not something we want to do, we don’t want to let a lot of our customers get screwed over.’
Of course, this also clarifies that blockchain and Distributed Ledger technology they are not inherently evil, but that is what was experienced on the side of Valve. “There are a lot of interesting technologies in blockchain and distributed ledgers,” Newell said, though he has doubts about the public understanding of why these kinds of technologies should be used.
Of course, this teaches us another perspective not usually seen on the subject of crypto: that of the head of the largest digital video game market in the world. At present, everything surrounding this scene continues to be a point of contention and polarization, and It doesn’t look like the situation will change any time soon..