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KickStarter Fig - a new equity-based crowdfunding platform

Discussion in 'General Gaming' started by Infinitron, Aug 18, 2015.

  1. Ninjerk Arcane

    Ninjerk
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    Everything in one illustration
    [​IMG]
     
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  2. Irenaeus II Unwanted Dumbfuck Repressed Homosexual The Real Fanboy

    Unwanted
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  3. Stokowski Arcane

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    If your definition of adult is "likes to piss money away", then I'm glad I'm just an average Codexian.
     
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  4. m_s0 Arcane

    m_s0
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    Just imagine they named Kickstarter 'You Won't Get Shit' instead.

    I wonder if Schafer ran that name through his DF comrade.
     
    Last edited: Aug 18, 2015
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  5. Ninja Destroyer Arcane Patron

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  6. aratuk Arbiter

    aratuk
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    They are betting there are a lot more Dracogen-types.

    Pretty much, people with $10k to spend on a video game are less likely to be impressed with the return on investment being "fly down to California and get drunk with a bunch of nerds," which tends to be the high-tier reward on Kickstarter. You would think that throwing in that kind of money would actually buy you a piece of the (potential) action. DoubleFine, Obsidian, and inXile are probably all more than willing to offer that kind of deal, but those kind of deals are regulated by the SEC, which Kickstarter or for-damn-sure Indiegogo aren't equipped to handle. It requires a new entity.

    I'm sure Dracogen's involvement in these games actually did involve contracts hashed out individually with lawyers. This Fig company is an attempt to streamline that process and scale it so that one-on-one legal negotiations aren't necessary for possibly dozens or more investors.

    Like a lot of ideas, it's good one if it works.
     
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  7. Zombra Arcane Patron

    Zombra
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    Yeah, with a "millionaires only" policy and $1000 buy-in for equity I'm not exactly jumping out of my chair at this fantastic opportunity. It would have been cool to pledge $20 and then years from now get 0.03 in royalties over Paypal, but oh well.

    Other than that, it just looks like "Kickstarter again" but without inXile/Obsidian having to pay outrageous fees to KS or whatever when they pitch a game. And in that light I can actually support it.
     
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  8. aratuk Arbiter

    aratuk
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    "Micro-investment" is still relatively new. It's harder to get regulatory approval to offer this kind of thing to people who aren't "accredited investors" for good reason – so that regulators can make sure someone isn't running a scam on the general public. Accredited investors are supposed to know better, so you can legally sell them "investments" with less oversight, and shame on them if they get scammed.

    Also, "not a scam" doesn't mean "you won't lose your money" – it only means "you can keep an eye on your money as it evaporates due to good old fashioned incompetence rather than thievery"
     
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  9. Tical Arcane

    Tical
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    That's not his worst offense. The number 1 "Fuck Off Forever" reason he should be loathed is for flat out deceptively lying his double chins off from the get-go. Starts Kickstarter, reels in fans by hyping challenging old school adventure game for old school Lucasarts fans, then slowly shits out baby's first SJW adventure for his daughter. Goes on to admit as much on TV as he sucks the sweaty balls of trannies and rainbow heads for cuck points. Fuck him and anything he'll ever again be involved with. He now dwells below Molyneux, Bethesda, Bioware and even that guy who came here spamming his browser strategy game. "It's free! Come give it a try."
     
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  10. getter77 Augur

    getter77
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    Fargo's comment on Twitter about likening this to the pursuit of a financing access situation roughly comparable to what the film industry has availed itself all these years speaks pretty directly for good and ill alike---I would be surprised if this wasn't beget from them trying to push Kickstarter to improve and overhaul various attributes as one of the pillars holding the site up of late in terms of their growth/publicity and getting pretty well nowhere fast.
     
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  11. 28.8bps Modem Prophet

    28.8bps Modem
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    Other than the 34K of funny money that I guess was put in by the owners of the site, their inaugural project hasn't actually gathered that many pledges considering the news blitz. Wouldn't it be amusing if it failed?
    :troll:
     
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  12. Zombra Arcane Patron

    Zombra
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    Good point ... but Kickstarter is already a no-guarantee throw your money away type of deal. Of course, KS is framed as a "donation" service which has different legal expectations. Still, from my perspective there's not much difference between "pledge $20 and maybe you'll get a game" and "pledge $x to us and maybe you'll get a game and royalties later".
     
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  13. 28.8bps Modem Prophet

    28.8bps Modem
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    It's mostly because selling shares in companies promising to create something astonishing was the favourite scam of the gilded age, so it's long since been regulated. I wouldn't be at all surprised if down the line some countries decide that the more traditional crowdfunding model isn't actually a donation but a sale, and needs to levy whatever the local sales tax. It's certainly treading a thin line.
     
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  14. Sam Ecorners Arcane

    Sam Ecorners
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    So Schaffer is swingin it like it's a thing for regular peons, backing at $30 tiers? LOLOLOOLO most of these enlightened gamers will never come close to 200k salary. Schaffer is such a scamlord.

    As of the platform, on the other hand, it's fine. I doubt Fargo would completely ignore KS with its userbase. This is just for their buddies to make throwing cash at each other easier.
     
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  15. aratuk Arbiter

    aratuk
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    I think they overemphasized the "You have to be a MILLIONAIRE!" thing, and also they seemed to tell the press that traditional Kickstarter-like backer rewards would be available later, when really they seem to be available now. So, many people reading the news articles think they can't yet back the game. Not to mention that the site times out when you attempt to actually pledge…

    Of the three board members, hopefully they'll let Feargus go first. I'm not one of those who hates Schafer, but I think he misjudged the scope of his project, designed it too big, had to make too many compromises cutting it back.

    It's very interesting that Fargo just wrapped a Kickstarter only a little more than a month ago, and didn't wait to make it a campaign under his new company. I just asked him why on Twitter; we'll see if he responds.
     
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  16. Infinitron I post news Patron

    Infinitron
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    This initiative is actually the first confirmation in a long time that Feargus is even still thinking about crowdfunding.

    Oh wait, heh: http://www.rpgcodex.net/article.php?id=9881

    That's from May. Fig has been around since March. :M
     
    Last edited: Aug 19, 2015
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  17. Zed Codex Staff Patron

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  18. Morality Games Arcane Patron

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    It isn't the last time a KickStarter only technically fulfilled the provisions of a promise.
     
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  19. Awor Szurkrarz Arcane In My Safe Space

    Awor Szurkrarz
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    Looks like they realised they seriously disappointed most of their audience and now are looking to bypass the public when it comes to funding.
     
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  20. Duraframe300 Arcane

    Duraframe300
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    Showing nothing but contempt for the people that buy his games, that grew up with them.

    Of course, never meet your heroes. But considering what Schafer meant to an adventure fan in the 90's and just how bad it got its by far the biggest disappointment to come out of kickstarter.
     
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  21. Kz3r0 Arcane

    Kz3r0
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    Dante cites the fig sign in Inferno, and means fuck you.
    Seems to be quite widespread in all human cultures tho.
     
    Last edited: Aug 19, 2015
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  22. Kz3r0 Arcane

    Kz3r0
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    For them?
    Sure.
    For prospect investors?
    Not quite.
     
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  23. Tzaero DEPARTED Patron

    Tzaero
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    If Schafer is onboard they might as well get Herve onboard too.
     
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  24. Chamezero Guest

    Chamezero
    Waiting for Inafune to join them...
     
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  25. titus Arcane Patron

    titus
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    I don't see this ending well for the potential investors.

    [​IMG]
     
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