Steam launches real money-based 'Community Market'

Valve has kicked off the beta for it's Steam Community Market, which lets users exchange Steam Wallet funds for items. Currently the beta only supports Team Fortress 2 consumables.

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Valve has taken the next logical step for Team Fortress 2's bustling hat-based economy, by introducing actual money into the equation. The Steam "Community Market" entered beta today, a test bed that allows users to exchange Steam Wallet funds for items instead of simply trading.

The beta only works with TF2, and even then only with consumable items, but Valve promises it will be available with other titles next year. You can show off your items on the Community and sell or trade them to other Steam users. According to a FAQ, all sales are final. Steam keeps a 15% transaction fee during the beta period, which may increase in the future. During the beta, sales are restricted to 200 per calendar year, starting with January 1. Presumably you won't reach 200 before then.

"With over a half million trades made every week, the trading system has been very successful," said Valve's Tony Paloma. "Extending game economies beyond trades and giving players a way to turn gameplay into funds for new items and games is a key component for moving that success forward."

So to summarize: Team Fortress 2 started with clothing items, which led to barter and trade, and finally the advent of currency. Use this handy metaphor to teach your kids about the development of economics in western civilization, because it happened exactly the same way. That progression is almost definitely because of this guy.

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  • reply
    December 12, 2012 11:45 AM

    Steve Watts posted a new article, Steam launches real money-based 'Community Market'.

    Valve has kicked off the beta for it's Steam Community Market, which lets users exchange Steam Wallet funds for items. Currently the beta only supports Team Fortress 2 consumables.

    • reply
      December 12, 2012 11:49 AM

      Shack, it's reaaaaally annoying when you post articles without links.

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        December 12, 2012 11:50 AM

        found it http://steamcommunity.com/market/

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        December 12, 2012 11:51 AM

        there is a link - to the article. which contains links.

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          December 12, 2012 11:56 AM

          Am I not seeing it? I found the Market page by clicking the FAQ link, which took me to the Community Market page, which took me to the Market page, which seems a little odd.

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          December 12, 2012 3:50 PM

          The article has no links to the thing that the article is talking about, which is indeed silly

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        December 12, 2012 12:08 PM

        This has been a pet peeve of mine for the longest time on the Shack. Reporting news without ever linking to the actual source of the news. I'd finding myself using google to find the original article or post or video too many times.. I guess now it's one of the reasons why I simply stopped reading first page articles. I just hate when people pretend the internet doesn't exist.

        At least this article does have a few links to external related content, but not one to the market itself is kind of weird.

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        December 12, 2012 2:34 PM

        [deleted]

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        December 12, 2012 4:02 PM

        blogspam at it's finest!

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        December 12, 2012 5:10 PM

        Yup, pretty shitty. They should link their source and the actual topic website (if applicable) at the bottom of the page.

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      December 12, 2012 11:58 AM

      15% transaction fee? Seems a bit high, and for what purpose?

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        December 12, 2012 12:07 PM

        Diablo set the rape standard now everyone will follow.

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        December 12, 2012 12:26 PM

        And...for what purpose? What?

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          December 12, 2012 12:42 PM

          From the FAQ:

          The Steam Transaction Fee is collected by Steam and is used to protect against nominal fraud incidents and cover the cost of development of this and future Steam economy features. The fee will be 5% during the beta period (with a minimum fee of $0.01). This fee may be increased in the future.

          The other 10% is a game specfic fee that is an amount set by the publisher of the game and goes to the publisher of the game.

      • reply
        December 12, 2012 12:56 PM

        The transaction fee is so that Valve can get a cut of the action. The Team Fortress fee is probably to help keep the game running.

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        December 12, 2012 3:12 PM

        Valve is already taking a potentially big hit by doing this since the "used" market is much lower than buying new. Just look at how much cheaper keys and paint are on the open market. This way they get their cut either way.

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        December 12, 2012 3:51 PM

        For facilitating the transaction, just like every single transaction service provider ever

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          December 12, 2012 4:13 PM

          Getting an extra cut from the reselling of imaginary items they already sold for $2.50 (crate keys) is genius.

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      December 12, 2012 12:06 PM

      Someone tell me what to think. I am totally indifferent.

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        December 12, 2012 12:12 PM

        It's kind of cool that Valve is experimenting with more stuff - especially considering this will potentially mean less profit for them (people can buy stuff off each other more easily, rather than the in game store); it's just a cool thing to do to see what happens.

        Right now it's a bit useless though - only a limited subset of TF2 items are available. When most of the TF2 items and Dota 2 items are on it'll be cooler, and if we end up seeing unopened/ungifted games on there... that'd be sweet!

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        December 12, 2012 12:17 PM

        It beats getting gouged by someone in a trade server.

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          December 12, 2012 12:29 PM

          i wonder what affect actual currency will have on trade servers

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            December 12, 2012 12:37 PM

            I dunno how it will affect Trade Servers, but I wonder how it will effect the trading that happens on there.

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          December 12, 2012 2:45 PM

          I couldn't care less about TF2 items but am wholeheartedly looking forward to the ensuing torrent of hat baron tears.

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        December 12, 2012 12:20 PM

        Makes it easy for those people that really want a TF2 weapon to just trade someone straight up for it via steam wallet. I know I've been tempted in the past when I'm drunk. Which is actually the majority of my TF2 career.

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        December 12, 2012 6:18 PM

        I think this will be awesome, because if I'm not mistaken in means Shackers can go in together on "4 packs" during steam sales and shuffle the money and copies of the game around all within Steam. Or I'm mistaken and someone will let me know in 3... 2... 1...

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          December 12, 2012 6:20 PM

          Hrm, I think I am wrong, I don't see anything about them expanding it to more than just items within games.

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          December 13, 2012 7:57 AM

          I suppose you could transfer the money by trading it for a worhtless item, but you'd have to pay 18% more for the copy that way, negating most of the -25%.

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      December 12, 2012 12:25 PM

      This is kinda neat... maybe I'll sell my stupid medal now. Now being whenever they open it up to that sort of thing.

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      December 12, 2012 12:44 PM

      found the most important thing in the FAQ!:

      For the initial launch, the Market will be limited Team Fortress 2 consumables and tools, including paints, keys, and crates.

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        December 12, 2012 12:58 PM

        I've already sold a crate for a whole penny. I CAN RETIRE!

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          December 12, 2012 6:15 PM

          i just want to get rid of the damn things

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      December 12, 2012 1:48 PM

      Well, getting 4 cents out of TF2 and its crates is at least worth the hours put into it.

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      December 12, 2012 2:29 PM

      Well, cashed out my three unusuals (traded them for keys, then sold the keys). Now I have $200 in Gaben Bucks to spend on Steam.

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      December 12, 2012 2:41 PM

      What is the bid-ask on Axe chests?

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      December 12, 2012 3:11 PM

      Can't wait until I can get rid of all the DOTA 2 items I don't use

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      December 12, 2012 4:51 PM

      I have 68 TF2 items, but it says I have none in my inventory when I go to sell anything. :\

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        December 12, 2012 5:11 PM

        Right now, it's limited only to consumable items. I expect a lot more activity to happen when Strange weapons get thrown into the mix.

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      December 12, 2012 5:04 PM

      The hypocrisy of some peoples' reactions to this when juxtaposed to their purported indignation at similar efforts by Blizzard is funny but I guess I should expect the complete lack of principle or consistency from the enthusiast community at this point (for prior examples see LFD2 and MW boycotts).

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      December 12, 2012 6:14 PM

      Holy fuck, I'm going to be rich! RICH I TELLS YA!

      However, I mostly play drunk and will probably get scammed by a 6 year old.

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        December 13, 2012 5:35 AM

        This post made me lol, cheers for that. xD

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