Chaosium Suspends NFT Plans

After widespread backlash across social media, Chaosium has announced that it has suspended its plans for future NFT releases.

All of us at Chaosium are deeply concerned by the issues raised around the VeVe digital collectable releases from last July. We take these concerns very seriously—our fans and the communities built around Chaosium are our lifeblood. We go back a long way, and that means a lot to us. We want to make sure you are comfortable with the way we do business.

While we address the concerns of the tabletop gaming community we have halted our plans for future NFT releases.

Let’s go through what’s happened to date:

• In early 2019 we began discussions with VeVe. At the time NFTs and digital collectables were relatively unknown tech (at least in the TTRPG sphere).
• VeVe is managed by long-time fans and collectors, and we completed multiple rounds of due diligence before deciding to move forward and granting VeVe a license to sell digital collectables based on our IP. It is notable that VeVe’s other NFT licensors include Disney, Marvel, DC Comics, Warner Bros., Star Trek, Star Wars, Cartoon Network, Adventure Time, James Bond, GhostBusters, and many other leading popular culture brands. VeVe even has a license from the United States Postal Service.
• The environmental impact of VeVe's NFTs was crucial in our decision making. VeVe operates on a blockchain platform, (Immutable X), that is carbon neutral. The creation of VeVe NFTs, and their trading takes place “off-chain,” reducing the environmental footprint of VeVe NFTs by 99.9% when compared to those minted on Ethereum.
• Chaosium publicized VeVe’s initial offering (July 2021) across all of our social channels. Our announcements didn’t receive much attention from the gaming press or TTRPG community, but the release was successful and well received, demonstrating an enthusiastic and sizable community of Cthulhu fans on VeVe.
• With our licensee TYPE40, we built an NFT creation model that is protective and respectful of the artists involved—the digital collectables created for VeVe are all entirely new and original. The artists involved share fully in the proceeds of their sale.

However, we understand that a lot has changed since we started down this road in 2019. The issues relating to NFTs are increasingly complex and controversial. In recent months, the debate has become prominent and contentious. Bad actors in this sphere have received widespread coverage. Many people are justifiably baffled, incredulous, and deeply skeptical.

Based on both our research and experience with them, we believe that VeVe is an ethical company, pioneering a new digital community for collectors which uses this distributed ledger technology in a legitimate, meaningful, and environmentally responsible way.

We appreciate that many of our fans are angry and disappointed. We hear you. Your concerns must be listened to and addressed. That is why, in cooperation with TYPE40 and VeVe, we have made the decision outlined above. We do not have another scheduled release on VeVe or any other NFT marketplace. We will never require anyone to own an NFT/digital collectible to enjoy any Chaosium product or game.

Thank you for sharing your feedback. Thank you for patiently waiting for our reply. So much passion for what we do is a good thing. It’s been that way since 1975, and in this digital age we remain The Chaosium.

 

[Grendel_Khan]

Pump-and-Dump: Definition, How the Scheme is Illegal, and Types

Pump-and-dump is a manipulative scheme to boost the price of a security through fake recommendations based on false, misleading, or exaggerated statements.

www.investopedia.com

Again, I would ask you: do you think Veve actually thinks its products are $50k investments? Or does it promote that idea knowing that collectors and nft enthusiasts will spend their money in fake commodities?

He doesn't care. In fact, he cares so little he's going to make sure to post about exactly how much he doesn't care. This is what someone who does not care about a thing does.

 

[OblivionDrive]

What?!?

Yeaaah I remember that guy. He thought he should be reimbursed lol.

Everyone wants an unregulated financial system until they get the rug pulled out from under them. Then they demand security!

And this wasn’t even a rug pull. They still got their “items.”

 

[darjr]

Yeaaah I remember that guy. He thought he should be reimbursed lol.

Everyone wants an unregulated financial system until they get the rug pulled out from under them. Then they demand security!

And this wasn’t even a rug pull. They still got their “items.”

It’s as if the $600 plus they spent was for nothing. Huh?

 

[Cordwainer Fish]

Yeaaah I remember that guy. He thought he should be reimbursed lol.

Everyone wants an unregulated financial system until they get the rug pulled out from under them. Then they demand security!

And this wasn’t even a rug pull. They still got their “items.”

At least he can plant those bulbs and get tulips... oh wait.

 

[Umbran]

I didn't dodge the question. I don't care.

If you want to be convincing about there not being a scam going on, or understanding why others think there is, you probably need to care.

Why would they choose that platform? Because they like the art?

I don't mean why do people buy art on the platform. I mean why did Chaosium (or anyone else) choose this platform to sell art on?

It is a crappy platform for selling art. Why choose to sell art on it?

 

[Justice and Rule]

That tweet thread is ridiculous.

 

[darjr]

Did I say it was the vested interest members that ruin the conversation? That Twitter thread is a prime example. Do they not know how awful they sound? Or is it that their need to dump that NFT on the next fool forcing their verbiage? Does it matter?

 

[Dire Bare]

If you want to be convincing about there not being a scam going on, or understanding why others think there is, you probably need to care.

I'm not really trying to convince anyone NFTs aren't scams, I'm just not convinced by the arguments and evidence presented so far that they are. And I'm responding as such.

I don't mean why do people buy art on the platform. I mean why did Chaosium (or anyone else) choose this platform to sell art on?

It is a crappy platform for selling art. Why choose to sell art on it?

Okay, I did misunderstand you there. Sorry. Why did Chaosium choose to go the NFT route with VeVe? To hoodwink or scam their customers and fans? Or was Chaosium hoodwinked by VeVe . . . or by the shadowy allure of NFTs in general?

I would guess that someone high up at Chaosium wanted in on the new trend, the new hotness, and seriously misjudged the backlash from folks who consider NFTs a harbinger of the apocalypse. They saw a potential interest from some of their fans, and decided to capitalize on it. Was it a good idea? Certainly not in hindsight, probably not even at the time of the decision. But . . . a scam? An effort to deceive and cheat Call of Cthulhu fans?

Why NFTs and not some other delivery system? I'd guess that VeVe offered them a complete solution, making the creation of the digital products easy. Could Chaosium have released digital art pieces via some other method? Sure, but is there a turnkey solution out there just waiting for that scenario? I honestly don't know, but even if there is, was Chaosium aware of it, and is it "hot" like NFTs are?

 

[Hex08]

Chaosium should offer NFTs because they are obviously creations of Elder Gods....

 

[MGibster]

It's weird. Since this Chaosium thing hit the web I've read up on NFTs and I have a much better understanding of what they are and how they work. But I still don't understand why anyone would spend serious money on an NFT. And this isn't just me being old fashioned, I understand why people spend money on all sorts of things that I wouldn't spend my money on. I honestly don't get how anyone could look at an NFT and think, "Yeah, that's a good place to spend my $600." But then I would have felt the same way about tulips in the 17th century.

I'm glad Chaosium decided to drop their NFT project (for now at least). The venerable company has been around for more than 40 years and during that time I haven't really seen a lot of negativity thrown their way until the last few days. It kind of sucked seeing them dragged through the mud like that. Though I gotta hold them responsible for getting on their bellies themselves.