Well, technically, if you do end up with a profit share of the game, you're not working for free.
I think the guy in the email is pretty upfront about it. He doesn't try to fool you into anything and makes you aware there would indeed be a risk. I mean, there's no harm in asking is there? Especially if he's transparent and upfront about it. It's not like he's trying to lure you under false pretenses.
I personally don't mind these types of emails, probably because I've been in their shoes. When you start a project, you don't necessarily have the funds available to hire folks to work on the game. You might be a very good artist but need someone to help out with the programming aspect of things. If you can barely make a living with your current job, it might be difficult to pay the wages a certain specific skill. So in the end it means either of two things:
a) You give up on your project because you don't have the funds
b) you find people who believe in your project enough to take that risk
If you make a living as an artist, I can certainly understand that it might be a source of irritation if you see it as: "Why are people asking me to work for future potential cash, it doesn't work that way for other jobs!" But suppose the concept is indeed very good and the person who is contacting you has finished coding the game and the music and just need a few art assets, could be worth a shot maybe. It's a case by case basis in my humble opinion.
As for spamming game musicians again, I don't personally mind. They're trying to make a living and being proactive about it by trying to get involved in different projects in my view. I don't see this as being something to scorn at.
The composer involved in my project is doing a wonderful job and was the one to contact me first. Some of them are actually good, talented people so I think it's possible to pass up on some really good composers if they end up being part of group, i.e. the spamming musicians.
Maybe you could put some information somewhere on your profile or in your signature which clearly indicates that you don't do profit share. That would probably stop people from contacting you. Might be worth a shot!
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