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KickStarter Fig - a new equity-based crowdfunding platform - shut down, RIP

Mustawd

Guest
Huh? This will be interesting. You'd think if there's not a market for at least a kickstarter it'd be dumb to invest in this.
 

Bester

⚰️☠️⚱️
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It doesn't look like they'll make it. They definitely would've made it on kickstarter. I guess it's the last fig campaign, they won't even pour in their own money this time, the platform is obviously dead.
 

Mustawd

Guest
Fig only has a chance with big names in gaming and/or nostalgia effect. Look at how easily Psychonauts 2 was funded. Their biggest failure here is proper curation to bring true AA or AAA indie games to funding. Which is ironically what the whole point of the platform is.

Don't think the platform is dead though. I'd find it hard to imagine Fargo not throwing an inXile project onto fig in 2016. Maybe after TToN launches and their visibility is high.

EDIT: Which makes sense seeing that they have one game set to release soonish and one in the pipeline. We all know that Fargo understand there needs to be a staggered schedule of projects. Not only to help cashflow but to keep relevance.
 

mutonizer

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Hmm, might have been mentioned but I haven't seen it yet and this seemed VERY relevant to such a thread...

 

Mustawd

Guest
What the F is going on over there? Confused on how this qualifies as an indie AAA game they keep talking about...
 
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Divinity: Original Sin 2 Steve gets a Kidney but I don't even get a tag.
Rock Band™ 4 for PC, distributed via Steam, with 1700+ songs available as DLC. Including tools to convert your own music files into a game-readable format, so you can submit them via Steam Workshop for possible inclusion in the game store.


Let me guess, 10 songs per DLC ?
 

Athelas

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Jun 24, 2013
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4,502
Well, between this and the Jay and Silent Bob game, you certainly can't deny that Fig is dedicated to funding projects that no publisher would want to touch. :troll:
 

J_C

One Bit Studio
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Project: Eternity Wasteland 2 Shadorwun: Hong Kong Divinity: Original Sin 2 Steve gets a Kidney but I don't even get a tag. Pathfinder: Wrath
Nobody cares about music games anymore, that fad is over. Especially not the PC crowd. I don't know what are they going for here.

And now that Rock Band 4 is on the main page, Jay and Silet Bob game will also fail, since it is not in the storefront. I thought the purpose of fig was to have one campaign active at a time.
 

Mustawd

Guest
Not sure about one campaign at a time, but it probably would work best that way until the platform takes off. This thing has seemed completely mismanaged from Day 1. It was a good concept when you had big names like Fargo and Schafer. I mean look what a big name did to Psychonaughts 2.

Doing a Psychonaughts 2...then a inXile game...would have setup Fig for some successful launches. Instead they've put a bunch of weak games (outside of P2) on the platform and kind of killed any of the hype they created in the first place.
 
Self-Ejected

Excidium II

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Nobody cares about music games anymore, that fad is over. Especially not the PC crowd. I don't know what are they going for here.

And now that Rock Band 4 is on the main page, Jay and Silet Bob game will also fail, since it is not in the storefront. I thought the purpose of fig was to have one campaign active at a time.
I think people do care about music games, but there are all those games that work dynamically with your playlist so why would anyone buy this thing that requires hundreds of dlcs?
 
Joined
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PC RPG Website of the Year, 2015 Codex 2016 - The Age of Grimoire Make the Codex Great Again! Grab the Codex by the pussy Divinity: Original Sin 2 BattleTech Bubbles In Memoria A Beautifully Desolate Campaign Pillars of Eternity 2: Deadfire Pathfinder: Kingmaker Steve gets a Kidney but I don't even get a tag.
First off, thanks for your support - we’re very excited to see Psychonauts 2 taking shape, and we’re looking forward to Tim Schafer and the team at Double Fine expanding on the vast universe and incredible characters of the first game.

The whole journey began when you came to the Psychonauts 2 page and reserved your Game Shares™. So what has Fig been up to?

Well, we’ve been working hard on our Title IV qualification, which is part of the standard regulatory process for issuing Psychonauts 2 Game Shares™. Title IV is a portion of the 2012 USA JOBS Act that radically increases how much small companies can raise from “unaccredited investors”: gamers and regular people like you and me, as opposed to “accredited investors” who have large amounts of discretionary income to invest. Title IV increases the amount of money companies like Fig can raise from unaccredited investors to $50 million, from the previous limit of $1 million. It’s being called an “IPO Lite”.

This means more opportunities for Fig to help independent developers bring games to market. It also creates investment opportunities for people who want to play a greater role in helping fund the games they love, and potentially profit from that support.

Here’s how the process works:

Fig made its Title IV filing on December 18, 2015. That kicked off a standard SEC review process, which typically takes a few months to complete. Generally about 30 days after the filing is made, the SEC gets back to the filer with comments, in the interest of protecting investors like you. It’s important to point out that this is a typical process for companies seeking to offer securities to unaccredited investors - all filings receive comments. We received ours on January 18. Based on those comments, and feedback from the community and potential investors like you, we updated our filing. In fact, that’s what we’ve just finished doing, and you can see the updated offering circular here.

After the initial SEC comments are resolved, there may be one or more further rounds of comments that occur at a faster clip. When the SEC has finished commenting, it will declare the offering qualified, and Fig Publishing will then re-confirm reservations investors have made, collect payment for those reservations and deliver Game Shares to the investors. This review process could take a few more weeks, but we’re hoping to conclude it sooner.

I recently wrote a blog piece describing in more detail how the whole investment process works. Click here to read about how your money flows through the system, how the system protects and helps developers, how it helps ensure a great game, and how you get paid for your investment.

Best,

Justin Bailey

CEO, Fig
 

Mustawd

Guest
Don't games need to sell ridiculous numbers for an 'investor' to get even a small return?


They have a calculator for each campaign. Unfortunately, P2 is no longer available since it's been already funded. Each game has its own terms. For example, the rock band game requires only about $72,000 copies sold. While the J & SB game requires around 100,000. This is mainly based on each game's estimated wholesale price.

https://www.fig.co/campaigns/jay-and-silent-bob-chronic-blunt-punch/invest.

https://www.fig.co/campaigns/rock-band-4-pc/invest
 

Perkel

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Messages
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Don't games need to sell ridiculous numbers for an 'investor' to get even a small return?

??

I you invest $100k into 100k game and:

-games sells for 1$ you need to sell 100k coppies.
-games sells for 2$ you need to sell 50k coppies.
-games sells for 4$ you need to sell 25k coppies.
-games sells for 10$ you need to sell 10k coppies.

to break even if you sell game for 10$ and it sold 100k coppies then you get 10 times what you invested in. It is hard to find a stock company that can give you event twice amount let alone 4 or 5 (or you are very very very lucky).

Problem is when you want to make AAA game. Like small game it also has chance to fail but this time your $10 000 000 can go poof. On other hand those 10 000 000 if antyhing goes right can be exchanged into 100 000 000...


Welcome to investing 101.
 

Raghar

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Messages
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Don't games need to sell ridiculous numbers for an 'investor' to get even a small return?
You need to also calculate ratio of successful games. And because success of games can't be guaranteed...
 

DosBuster

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Codex USB, 2014
I'm pretty sure Double Fine is intentionally trying to run itself into the ground with this game, there is no way most of these investors are getting a good return I don't think they can sell shares either. Hopefully a good game comes out of this.
 

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