Maybe not.....
Fated seem to be BS too. Just instant decrypt engrams that have a chance to drop something you don't have. So pretty much like any exotic engram in the game. Reddit and my own experience, asking friends, shows that you're just as likely to get a duplicate item or a CoO item (so it feels like you got something new). The effect relies on people who did get a new exotic talking about it. This has the psychological effect of leaving doubt in peoples minds and, like most people will, you'll try the fated a few times before it registers you've been conned yet again. By then you've wasted 2 - 3 hundred shards.
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Seen alot of bitching, but it worked for me.
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I've seen plenty of proof that the fated engrams work. Haven't seen any proof of them not working. I'd need to see a video to believe it.
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Will ask a few people if they did the "Record that!" thing on their XBox and link a vid if they have.
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Okay cool. I'm more than willing to eat my words here. TBH I make mean word souffle.
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lol. I too want to believe Bungie hasn't pulled another fast one but, at this stage I believe the guys I've raided with for the last 3 years over anything Bungie say and some say they got stuff they already had (not all and I got a CoO exotic but, then it turns out I'm game sharing with a friend who has the expansion and I inherited it (go figure). So it may well just be that the engram gives out CoO exotics and, if the drop rate of those is as people are saying, then you'd get a new item simply by being given one of them by default! Next week will be the true test.
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I've heard you have to put all of your 'collected' exotics on you before going to Xur or the Fated Engram won't give you something new. I did this just in case (put everything 'on' before I went) and I got a Jade Rabbit (something new). I think it's stupid that the game doesn't read your 'collection', but until my collection completely fills my inventory, I can equip what I have to work around this. And yes, I do not understand how they screw this stuff up so badly...
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Bought one for shits n gigs, didn't have any exotics equipped and got a new one - Jade Rabbit.