The CEO of Epic Games, Tim Sweeney, has shared a couple of tweets on Twitter warning the public regarding the scams going around by the name of Fortnite Token which is not even connected with the game.
The gaming industry is on the boom, and the inclination of the audience toward gaming has increased on a considerable level. No doubt that Fortnite by Epic Games is counted as one of the most popular titles available in the global market. However, everything has its own disadvantages, popularity of a particular thing too.
To recall, the Fortnite Token was first spotted in the market a year ago, in 2021. Until May 2022, the token was inactive, but recently, it has started inviting people for the purchase and other stuff. As soon as Epic Games CEO got to know about the whole scenario, he blatantly termed it as a scam.
There isn't a Fortnite cryptocurrency. The Twitter accounts promoting such a thing are a scam. Epic's lawyers are on it. Also, shame on the cryptocurrency marketplaces that enable this kind of thing.June 6, 2022
As mentioned in a report by PC gamer, the creators of Fortnite Token responded by saying that the token is a community-driven, fair-launch, fans-created project with no company structure or owner behind it.
To which they got a response from Epic Games CEO that no one has the authority to use the Fortnite name and images without taking the permission of the game developers. He also shared a warning by saying that the lawyers from Epic Games are working on the issue already.
As per the current scenario, the subreddit and Twitter accounts of Fortnite Token have been banned. Moreover, the token's page on OpenSea NFT marketplace is not responding, and it is showing a message, 'This content is no longer accessible.'
Has it happened in the past?
Yes, we got to see a similar scenario in November 2021 in the name of one of the most popular Netflix shows, Squid Game. A cryptocurrency by the name of Squid Game entered the market without any direct connection with the series.
The coin debuted at 90 cents each and rose up to $600, and then it skyrocketed to $2861, which was insane. However, it was all a planned scam as the people who bought the coin were unable to sell it after a while.
And in a couple of weeks, the value of the coin went back to a few cents which was devastating and disappointing for a lot of investors. This is just an example, we have seen a lot of cryptocurrencies following a similar kind of pattern.
Keeping all this in mind, the decision by Epic Games CEO to inform the audience was completely correct on an honest note. No one wants to authorize other people to use their brand's name for something that is most probably fishy in nature.
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