Steam’s Community Market open for business

Valve has announced the beta launch of its Steam Community Market, a system designed for users to buy and sell in-game items with Steam Wallet funds.

The rolling out of the service means all consumable Team Fortress 2 items owned by players can now be purchased or sold for real money. Valve takes five per cent as a transaction fee, and the rest of the amount goes to whoever makes the sale.

The move is considered by the company to be the next step in the expansion of the free-to-play shooter’s budding economy.

"With over a half million trades made every week, the trading system has been very successful," Valve’s Tony Paloma said. "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."

The system currently supports TF2 as its lone title, but Valve plans on bringing more games into the fold sometime next year.