Steam kicks out crypto, epic answers: we’ll welcome them

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The battle between Steam and Epic Games, two of the world’s largest video game distribution platforms, has reached the crypto market. As Bitcoinist reported yesterday, video game developer Vault has removed and banned crypto-based games from Steam. The decision was greeted with a response from its competitor.

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Via his Twitter account, CEO and co-founder of Epic Games, Tim Sweeney, confirmed that the platform will host games using blockchain technology. Crypto, non-fungible tokens (NFTs), and on-chain gaming have become a threat to platforms like Steam.

Therefore, there has been speculation that the company is attempting to limit its users’ access to these products on its platform. On the other hand, Epic Games is poised to embrace innovation in cryptography as long as the games comply with applicable laws, are transparent with their terms of use, and receive an age rating.

Sweeney told his audience of 172,000 on Twitter the following:

Although Epic does not use crypto in our games, we welcome innovation in the areas of technology and finance. As a technology, blockchain is just a distributed transactional database with a decentralized business model that prompts investment in hardware to expand the capacity of the database. This has utility whether a particular use succeeds or fails.

With over 180 million users reached in 2021, the Epic Games platform is one of the few capable of giving Valve and Steam a hard time. So this statement from Sweeney appears to be a strategic move to take the lead in an industry that has the potential to disrupt the entire billion dollar video game industry.

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Epic Games CEO defends crypto after Steam ban

The statements by the CEOs of Epic Games sparked a lot of comments from the crypto community. Some users believe that proof-of-work-based cryptocurrencies, such as Bitcoin and Ethereum, are an environmental hazard and a fraudulent monetary scheme.

On the contrary, Sweeney believes crypto can be a basis for creating a new system with increased transparency and confidence. From his comments, he seems more inclined to Proof-of-Stake-based networks:

Well, I think there is a great basic idea to use cryptography and game theory as the foundation to build reliable persistent decentralized calculations. And then there is a first implementation called Proof of Work which has grown far too much and should be deprecated as soon as possible.

The CEO of Epic Games has also sparked controversy due to recent comments he has made about the NFT industry. Via Twitter on September 27, Sweeney sharply criticized the industry:

We are not touching NFTs because the whole field is currently entangled in an insoluble mixture of scams, interesting and decentralized technology foundations and scams.

The video and crypto industry is waiting to see the next step and see what actions Epic Games will take to implement crypto and blockchain technology.

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At the time of writing, Ethereum is trading at $ 3,831 with a 2% loss in the daily chart.

ETH with minor losses in the daily chart. Source: ETHUSD Tradingview

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