I have see about 2 or 3 people with it. can I ask, why is it exotic? is it because it's quite rare or does it do something special?
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emblems do have special properties. bungie won't confirm it. Speaker emblems due to their large expence have been studied (emblem buffs, google it). I recomend his "gifted" for more engram drops and "skeptic" for cryptarc rolls and end strike rewards. People with the new "Dark Blue" House of wolves emblem seem to always have treasure keys so I am going to rock that one for awhile to see.
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It just is. Not too hard to get. Got 3 flawless tickets last night.