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Forbes Daily Briefing

Witchcraft Is Big Business On Etsy

Forbes Daily Briefing

Forbes

Careers, Business, News, Entrepreneurship

4.612 Ratings

🗓️ 22 September 2024

⏱️ 5 minutes

🧾️ Download transcript

Summary

Despite a near decade-long ban on the sale of “metaphysical services,” the $6 billion arts and crafts e-commerce platform hosts thousands of spells promising everything from untold wealth to cures for chronic depression — modern day snake oil sold as “entertainment.”

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Transcript

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0:00.0

Here's your Forbes Daily Briefing for Sunday, September 22nd.

0:05.0

Today on Forbes, witchcraft is big business on Etsy.

0:11.0

In 2021, Nick the Alchemist started selling magical spells on ETSI.

0:17.0

For just a few dollars each, he offers spells for pet protection, quick money, and overcoming fear,

0:24.0

and emblems known as sigels to confuse your enemies, attract women,

0:28.0

or become a quote, famous influencer.

0:31.0

Most of his dozens of spells have been rated five stars by

0:35.0

apparently happy customers. Since then he says he's made about $100,000

0:41.1

enough to help him quit his job as a stocker at Lowe's in Michigan, where he lives.

0:46.5

The 28-year-old entrepreneur said, quote, I've always been drawn to entrepreneurship, but I've been attracted

0:52.1

to metaphysics and spirituality, so I just put those two things together.

0:56.0

Before my Etsy, I tried a lot of things, drop-shipping, writing articles, creating websites,

1:02.0

nothing stuck until the ETSI shop.

1:06.2

For almost a decade, ETSI has been a showcase for hand-crafted, one-of-a-kind items,

1:11.0

generating $307 million in profit last year from 9 million sellers.

1:17.0

Its selection is as vast as the human imagination, featuring everything from T-cozies to, quote,

1:22.2

human face pies.

1:24.0

But alongside the custom pet portraiture and six foot plus giant

1:28.0

squids are listings for something the platform has banned for nearly a decade.

1:32.0

Magical spells. the platform has banned for nearly a decade.

1:33.0

Magical spells.

1:35.0

Sellers like Nick the Alchemist offer thousands of them,

...

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