Core Viewpoint - Valve's recent tightening of adult content regulations on Steam has raised concerns among players and developers about the platform's future content policies and the influence of payment processors [2][10][12]. Summary by Sections Recent Changes in Regulations - Valve updated the Steamworks developer platform documentation, adding a new rule that prohibits content that may violate payment processors' standards, particularly regarding adult content [2][4]. - Over 100 games were marked as "Retired" within two days of the announcement, many of which contained adult themes [4][10]. Payment Processor Influence - The primary reason for the new restrictions stems from pressure from payment processors like Visa and Mastercard, which have been increasingly cautious about servicing adult content-related businesses [7][10]. - Valve's actions are seen as a passive response to the risk of losing payment processing services if they do not comply with these pressures [10][12]. Implications for Content Ownership - The situation highlights the fragility of digital content ownership, as players may lose access to games they have purchased if the developers decide to remove them from the platform [15][16]. - The user agreement on Steam indicates that players do not own the games they purchase, raising concerns about the implications of such policies on digital rights [16][17]. Broader Trends in Content Regulation - The tightening of content regulations is not limited to Steam; similar pressures have been observed on platforms like OnlyFans and Patreon, where payment processors have influenced content policies [20][21]. - The trend suggests that payment processors may increasingly dictate what content can be sold on various platforms, leading to greater uncertainty for developers and players alike [24][25].

Core Viewpoint - Valve Corporation has updated its Steam platform guidelines to restrict certain types of adult content, considering regulations from payment service providers, card networks, banks, and online service providers [1][3]. Group 1: Developer Reactions - Developers have varied responses to the new guidelines, as Steam is an open platform covering all game types with clear age ratings [3]. - The ambiguity of the term "certain types" in the new rules makes it difficult to predict the specific regulations that will be enforced [3]. Group 2: Context of the Update - The update is believed to be influenced by the controversy surrounding the adult game "No Mercy," which faced backlash for its sensitive content [5][6]. - "No Mercy," developed by Zerat Games, was criticized for themes of non-consensual behavior and was ultimately removed from the platform after public outcry and government pressure [6]. Group 3: Historical Perspective - Steam's approach to adult content has fluctuated over the years, with strict reviews prior to 2016, leading to the rejection of certain adult games [8]. - In 2018, Valve faced significant backlash when it attempted to enforce stricter regulations on adult content, resulting in a public apology and a reconsideration of its policies [11][15][17]. Group 4: Current Market Implications - The new restrictions could impact a large number of visual novels and NSFW products, which have become a significant segment on Steam, despite their relatively low median revenue [19]. - The potential for further restrictions raises concerns about the sustainability of these products on the platform, as they often operate in a precarious regulatory environment [19].