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It's also a smart legal strategy.

Nintendo's lawsuits they won against emulator projects in the past had donation systems as one of, if not the sole main point they drove to win the case.

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Yep like yuzu did monetize their emulator, it didn't help that they were also shipping cracked on their discord server
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I suspect you would quickly attract a lot of the wrong kind of “developers” the moment a financial reward appeared. Especially now that it’s so easy to use AI to make something that looks slightly plausible.

Although I suspect the other sibling comment is the real reason.

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