"This is exactly what we need": Asmongold applauds Valve chairman for banning NFTs on Steam

Asmongold is the latest in a long string of streamers to celebrate anti-NFT regulatory changes. The latest comes from the Valve-owned video game hosting platform Steam, where NFTs were recently banned after Valve co-founder Gabe Newell called the blockchain stream "sketchy."

Read on to find out what exactly led to this ban and how Asmongold and the rest of the streaming community are reacting to it

---

Asmongold weighs in on NFTs after Steam chairman announces ban

Twitch streamer Asmongold has been opposed to NFTs, or Non Fungible Tokens, ever since they entered the crypto mainstream. NFTs are a way for artists and creators to establish legal ownership and sell their work via select blockchains in exchange for cryptocurrency.

The streamer does not find them to be of any merit and has called them "stupider than astrology" and the adopters of the blockchain "ridiculous" in the past. In a February 26 stream, he reacted to Gabe Newell's stance on NFTs and heavily supported them.

"Thank you Gabe. This is exactly what we need to f**king have. It's actually that simple. He's not banning them because he doesn't believe in them, he's not banning them because he hates crypto entirely. It's just that 99% of the NFT promotions are scams then..MAYBE WE SHOULD'NT DO THEM."

The creator also went on to explain why Gabe Newell, co-founder of Valve, associated "sketchy behavior" and "out-of-control fraud" with NFTs in his statement post announcing the ban.

"If somebody is on Steam and they're using Steam and they play a game or they get involved in something through an NFT and then they lose money, they had a bad experience on Steam."

Further, when he talked about an environment where people were frequently taken advantage of, he said:

"Why would he want to keep games that are used to prey on his customers?"

This continues his long-standing hatred of all things crypto, and is in line with his past videos where he has said that he hopes people will "wake the fxxk up" about crypto.

---

Fans react to Asmongold's anti-NFT stand

As this is a raging issue, all sides of the community joined in the discussion on the merits and demerits of this aspect of blockchains.

Experts believe that while both sides of the streaming community and people in general are making valid points about NFTs and cryptocurrency, it comes down to authorities to lay down the law as per the conditions in different countries in a way that both sides are satisfied.