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Indie marketplace Itch brands NFT projects a "scam"

The company believes NFTs are about "profit and opportunity for wealth."

Chris Kerr

February 7, 2022

1 Min Read

Indie game marketplace Itch.io has derided NFTs as "a scam." The company said it has been asked for its stance on the various NFT initiatives that have begun to permeate the games industry, and presented a scathing assessment in response.

"NFTs are a scam. If you think they are legitimately useful for anything other than the exploitation of creators, financial scams, and the destruction of the planet the we ask that please reevaluate your life choices," wrote the retailer on Twitter

The marketplace added that any company currently endorsing NFTs is essentially putting "their own profit and the opportunity for wealth above anyone else."

The discourse around NFTs has become increasingly relevant as more and more game companies begin to push into the space. Major publishers like Ubisoft, Konami, and Square Enix have laid out plans to utilize NFTs in one form or another, with Konami auctioning off "commemorative art" and Ubisoft attempting to sell virtual items such as weapons and cosmetics in the form of 'Digits' through its new Quartz platform.

U.S. retailer GameStop has also laid out plans to launch an NFT marketplace later this year and establish a $100 million crypto fund to entice creators onto the platform. Those companies have moved into the NFT market despite the widely reported concerns relating to fraud and environmentalism.

Others, however, have performed a swift about-turn as the conversation surrounding NFTs heated up, with companies including EA and Team 17 scuppering plans to explore NFTs in recent weeks.

About the Author(s)

Chris Kerr

News Editor, GameDeveloper.com

Game Developer news editor Chris Kerr is an award-winning journalist and reporter with over a decade of experience in the game industry. His byline has appeared in notable print and digital publications including Edge, Stuff, Wireframe, International Business Times, and PocketGamer.biz. Throughout his career, Chris has covered major industry events including GDC, PAX Australia, Gamescom, Paris Games Week, and Develop Brighton. He has featured on the judging panel at The Develop Star Awards on multiple occasions and appeared on BBC Radio 5 Live to discuss breaking news.

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