Valve CEO Gabe Newell Praises NFT Technology, Criticizes Bad Actors – Bitcoin News - BitcoinEthereumNews.com
Gabe Newell, founder and CEO of Valve, a popular company in the PC gaming market, has revealed his take on crypto and NFTs when applied to games. In an interview with gaming media, Newell validated the NFT technology that makes it possible to create these digital representations. However, he also stated that the actors in the sector tend to be involved in criminal activities. Valve CEO Talks About NFTs, State of the Industry Gabe Newell, CEO and founder of Valve, owners of Steam, one of the largest digital distribution markets in the PC industry, offered his thoughts regarding the NFT phenomenon and the people behind it. In an interview offered to Rock, Paper, Shotgun, Newell made a clear distinction between the technology that powers NFTs and the people that are currently in the industry promoting it. To validate the technology behind NFTs, Newell stated: You have to separate the underlying technology versus which actors are utilizing that technology. It‘s like if you’re a chemist, and you‘re looking at nitrocellulose, you’re like ‘Oh, yeah, we can do some really interesting stuff with that’ … The underlying technology of distributed ledgers, and the notion of digital ownership, and shared universes, are all pretty reasonable. However, this seems