CMON Limited, once one of the most successful crowdfunding-based board game publishers in the hobby, announced in April that it is investing $2.1 million to acquire a stake in Blissful Link, the company behind Capverse, a “Web3 play-to-earn game using blockchain technology.”
This is a company looking for an escape clause from serial Ponzi frauds that it's having difficultly outrunning. "Web 3" ain't savin' this rubble pile of a game factory that doesn't deliver on its promised games.
Backers should be lining up for a class action suit or two, and contacting their Attorneys General about these grifters.
Yeah, it's a huge red flag. All of those unfulfilled campaigns is a problem. Kickstarter should shut them down to prevent starting campaigns until they're all fulfilled.
I backed out of a Dune pledge at the last minute as it was going to cost more than I was comfortable with, not any precognition on my part. Looking more and more like I dodged a bullet.
Feel bad for all those backers though. CMON had many successful campaigns over many years. It's difficult to predict when the Crowdfunding music will stop, but eventually they start using new projects to pay for outstanding projects and it just goes into a death spiral.
It's flabbergasting though that they would mismanage funds to this degree. It looks very much like robbing the Treasury (embezzlement) on the way out the door.
This is a company looking for an escape clause from serial Ponzi frauds that it's having difficultly outrunning. "Web 3" ain't savin' this rubble pile of a game factory that doesn't deliver on its promised games.
Backers should be lining up for a class action suit or two, and contacting their Attorneys General about these grifters.
Yeah, it's a huge red flag. All of those unfulfilled campaigns is a problem. Kickstarter should shut them down to prevent starting campaigns until they're all fulfilled.
I backed out of a Dune pledge at the last minute as it was going to cost more than I was comfortable with, not any precognition on my part. Looking more and more like I dodged a bullet.
Feel bad for all those backers though. CMON had many successful campaigns over many years. It's difficult to predict when the Crowdfunding music will stop, but eventually they start using new projects to pay for outstanding projects and it just goes into a death spiral.
It's flabbergasting though that they would mismanage funds to this degree. It looks very much like robbing the Treasury (embezzlement) on the way out the door.
It sounds like fraud to me.
Board Game crowd funding; it's not a pyramid guys, more like a triangle.