LightSpeed ​​partner Amy Wu: Steam “fears” Web 3

If you are a senior game fan, you must have only the game “Counter Strike”. It was developed by the game company Valve in the summer of 1999. After that, the company established an online game. Steam is the purchase/service platform for genuine stand-alone games. With the rapid development of online games, Steam has now become one of the world’s largest comprehensive digital distribution platforms, allowing players to buy, download, discuss, upload and share games and software, but this platform seems to be good for NFT and blockchain games. Not friendly.

A5Y1NlbZJ6JlcbSXZ9vVc4GXZaHoztARNz9xH6jn.jpegOn October 16, Steam began to clear all games involving NFTs or cryptocurrencies. The update added to Valve’s newbie entry page pointed out that applications that should not be published on Steam include “distributable or allowable applications built on blockchain technology. An application for exchanging cryptocurrency or NFT”. According to the official Twitter of the blockchain game Age of Rust, the reason why Steam will delist all blockchain games is because Steam believes that these in-game items have value, and they do not allow items with real value on their platform. Age of Rust stated that although it firmly believes that NFT and blockchain games are the future trend, it respects Steam’s choice. 

For such “dominant” operation of Steam, LightSpeed ​​VC partner Amy Wu criticized on Twitter:

Valve announced yesterday that its gaming platform Steam no longer supports NFT and blockchain games. This is not surprising at all. The Web2 centralized platform can get a share of all the value generated by its ecosystem, but the blockchain does not do this. Instead, it decentralizes the value and gives it back to developers and users. 

Let’s take Roblox as an example: In fact, most people don’t know that Roblox developers can only get 27% of their revenue. But you know, the company made about $500 million in the second quarter of this year alone. However, they just announced that in this community of 1.2 million people, only 1,000 developers can earn more than $30,000. Is this fair or unfair?

Web 2 companies are based on a centralized model, and shareholders are mostly centralized. In this case, shareholders will definitely extract more and more value from the ecosystem instead of “feeding back” the value to developers and users. The emergence of Web 3 companies poses a huge threat to their survival. Therefore, I expect other game/app stores will follow Valve’s footsteps and follow their example to “block” NFT and blockchain games. 

It is worth mentioning that @EpicGames is a company that supports blockchain games, which is a distribution platform with more than 60 million monthly active users. At the same time, the CEO of @TimSweeney has been contending with Apple and Google in the past few years, hoping to fight for more benefits for developers. 

In fact, developers of Web 3 games can also choose to develop on other platforms. We found that most developers do development on the browser, which can easily integrate with the Web 3 wallet, and real-time distribution through self-built communities or social networks. 

At this stage, we are at the forefront of the tremendous value transfer brought by Web 3, but Web 2 has not given up for its long-term benefits, so we have not yet seen the advent of Web 3’s flourishing age. So, how do you predict the future development trend of Web3?

Posted by:CoinYuppie,Reprinted with attribution to:
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