The Cronerous Funko Company continues to lose ground despite numerous setbacks, as GameStop sticks by its foolish NFT marketplace decision.
What led to this discovery?
GameStop’s NFT marketplace, which was reported to host an NFT “adaptation” of a 9/11 victim’s famous image, facilitated the sale of illegal NFT copies of independent games, according to an Ars Technica report.
The NiFTy Arcade collection was published on the GameStop marketplace by Nathan Ello, who earned an initial 8.4 ETH (about $14,000) from sales. In addition, Ello evidently did not have permission to use at least two of these games in his NiFTy Arcade.
Are there other cases like this?
Also, it appears that three more games were not authorised, though this has not been confirmed. Moreover, Ello was also not authorised to use the PICO-8 engine in any of those five games.
Due to the distributed nature of NFTs, players can still access their versions of these illegal games, whereas their creators do not have legal recourse. After NiFTy Arcade was removed from GameStop, Ello’s account was suspended.
How will things be handled in the future?
While this project is restarting, Ello has guaranteed that future titles will comply with the NFT marketplace’s terms of service. Ello has pledged to reimburse the creators injured by NiFTy Arcade.
An example of the nefarious activities enabled by NFT markets is this incident. In the summer of 2021, NFTs pledged to guarantee artists’ “ownership” of their work, but reality has emerged, with their work often being used without their consent.
During last month’s Brazil International Games Festival, Brazilian developer Mark Venturelli made an excellent point about how NFTs themselves are only providing profit-generating opportunities and intangible advantages.
MetaGravity’s Retro Arcade Collection offers a number of older, more expensive titles converted into blockchain tokens.