When it comes to purchasing everyday items, customers don't want the price to fluctuate so much. To him, the space is filled with people who use NFTs as an opportunity to rip customers off or engage in money laundering.Īdditionally, when Steam was accepting cryptocurrency as payment for games, the huge volatility that came with it was problematic for users. He further explains that these people aren't the kind Valve wants to do business with. "So it's much more about the actors than it is about the underlying technology." "The people in the space, though, tend to be involved in a lot of criminal activity and a lot of sketchy behaviors," he said. The concepts of digital ownership and shared universes are fine by themselves, he said, but he thinks that the bad actors in the NFT community outweigh any of the potential positives. In an interview with Rock Paper Shotgun, Newell noted that it's important to separate NFT technology from nefarious users.
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