The popular free-to-play online video game Fortnite by Epic Games learned of a digital token of a similar name that was created in late 2021. Firm CEO Tim Sweeney confirmed that Fortnite does not have any official cryptocurrency, citing legal action being taken.
The CEO said on Twitter that such projects and accounts are just a “scam”, criticizing the entire crypto industry.
“There is no Fortnite cryptocurrency. Twitter accounts promoting such things are a scam. Epic’s lawyers are on it. Also, shame on the cryptocurrency marketplace enabling such things,” Sweeney tweeted on Monday.
However, the CEO of Epic Games faced resistance from the crypto community on Twitter for addressing the crypto markets as a whole. A user named “@JarretCF” They say That “no one can stop the bad actors, no more than you can stop the cheaters in your tournament. To me, it’s all the same people.”
The Fortnite Token (FNT) team denied being a scam project shortly after Sweeney’s tweet. “Fortnite Token is not a scam cryptocurrency project. Instead, it is a fair-launched, community-driven, cryptocurrency project created by Fortnite game fans, with no specified owner or company structure behind or deciding on its future. There is no CEO.” They say Fortnite Token Team.
The CEO of Epic Games also noted copyright and trademark issues with the so-called “fan-made” token, as it uses Fortnite’s official images and name without permission and in relation to the game’s parent company.
one such case
The widespread interest in Memecoin and the decentralized nature of digital tokens has created room for many scammers and fraudsters to abuse the emerging technology as new coins or tokens can be created in a matter of hours.
One of the most popular rug pullers in the industry pertains to a Netflix show called The Squid Game (SQUID). The token was marketed on the basis of a play-to-earn (P2E) game that allowed users to earn money. What investors did not know, however, was that the project was a complete scam.
According to data provided by CoinMarketCap, the coin rose from $38 to $2,861 in a matter of hours. However, investors could not withdraw their money and the project fell almost 100% to $0.007.
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