As the crypto market grew to popularity, it started to branch out into various niches. This usually happens when a financial market grows to a certain extent, but the crypto market was not ready for the many ways that developers were using blockchain to create innovative products.
One of the most recent of those products to kick up a storm was NFTs, which allowed companies to create scarcity on the internet. And since the internet is famous for being able to create copies of just about anything, suddenly it was unable to do so with NFTs. but even if people were to consider the incredible benefits that come with NFTs, many companies have been able to integrate them in different ways.
One of the most popular ways that companies have been able to implement NFTs is through video games. Now, companies are able to produce DLC, characters, character skins, and items that are completely exclusive and that no one will be able to replicate. This was a game changer for the gaming world, and allowed a lot of companies to make significant profits through these crypto derivatives.
However, with the recent uncertainty surrounding cryptocurrencies, different companies have reacted quite harshly and irrationally towards cryptocurrencies. And the biggest move came from Steam, the Valve gaming marketplace, banning cryptocurrencies. More specifically, games that used cryptocurrencies or other types of cryptocurrency derivatives were no longer allowed on the website.
But even though Valve taking down crypto from its platform was a major hit to the crypto scene, Epic Games came in quick with the save. Almost instantly after the news of Valve’s ban became official, Epic was quick to inform everyone throughout the crypto world that they will be accepting crypto-based games.
For close to three years now, Valve and Epic have been in a constant power struggle to find out which is the best video game marketplace right now. For years, Steam remained the undisputed champion of video game marketplaces and was never in any danger. Even when Epic first launched to the scene, they were not scared of their reign.
But with Epic becoming the newest refuge for crypto-based games, Steam might take a big hit. Tim Sweeny, the CEO of Epic, even tweeted out that their storefront is welcome to all sorts of games, and ones with crypto are no exception.
Of course, Epic has also been very careful when allowing crypto on its platform, as it does not want to have to deal with the backlash of players falling for something. Instead, they are now decided to do proper research about the industry and see if it is a good idea.