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Re:Steam bans all blockchain and NFT games on its platform by meowface on Friday October 15, 2021 @03:55PM (#28882369)
They aren't. You're trading one non-fungible thing for a different non-fungible thing.

Alternatively, a game could also offer SFTs (semi-fungible tokens, as described in ERC-1155 [1]), in which case players could trade multiple identical versions of some indivisible asset. Something like a skin or a hat would be an SFT unless only one copy of it existed (i.e. only one player could ever use that skin or hat at any time).

[1] https://eips.ethereum.org/EIPS/eip-1155

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