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The official statement from Valve elaborated on their reasoning for cancelling the ambitious project, and they also touch on the fact that they think the original idea had some merits, and might be used in a future system:
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One of the best examples was a fishing modification that Valve themselves advertised on the main page during the first day of the paid mod system - it had stolen assets in it, so their flagship modification had to be taken down less than 24 hours after it was introduced as one of the first paid mods on Steam. Plenty of gamers expressed concern at the lack of modification support and quality control, of which the content in Skyrim's marketplace literally had almost no guarantee. Some modifications had switched to Steam as their sole hosts, and it has yet to be seen if the creators will return once again to other free mod websites like Nexus Mods.
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While it's not known if modification developers will receive any payouts for the sales they did end up generating, it's good that those that purchased modifications in the Steam Workshop - which are now returning to their original price-point of zero dollars - will receive full refunds for their purchases. In the 3 short days the Skyrim Steam Workshop supported paid modifications, it was witness to countless acts of software theft, plenty of joke modifications for sale at ludicrous prices, and tiny modifications that cost more than Skyrim itself did at the time. The decision from both parties came after Valve admitted the err of their ways following a self-described 'dump truck of feedback', most of which was evidently negative. Today, Valve and Bethesda announced the full cancellation of Steam's paid mod workshop, apologizing for the inconvenience and refunding gamers who had made purchases during the system's short lifespan. The sudden introduction of paid modifications into the marketplace caused an influx of outrage and a torrent of complaints from gamers, who had plenty of valid concerns on why this was a bad idea for both the mod scene and consumers as a whole. Don't blink, or you'll miss it! That phrase is probably familiar to Valve, whom introduced a for-profit Skyrim Steam Mod Workshop a mere 3 days ago.