FIG is a crowdfunding platform for video games launched in August 2015. Unlike traditional crowdfunding approaches like Kickstarter , where individuals can back a project to receive rewards, Fig uses a mixed model that include individual backing and the opportunity for uncredited investors to invest as to obtain a shares of future revenues for successful projects.
* 1 History * 2 Approach * 3 Games funded * 4 References * 5 External links
Fig was founded in August 2015 by Justin Bailey (formerly, COO of
Double Fine Productions ), Bob Ippolito, and Freeman White. The
advisory board is composed of executives from across the video game
industry with previous experience in crowdfunding and investing in
video game projects: Aaron Isaksen of the
Indie Fund ,
Brian Fargo of
inXile Entertainment ,
Feargus Urquhart of
The company was initially backed by seed funding from
The name "Fig" derives from Hotel Figueroa, located along Figueroa Street a short distance from the Los Angeles Convention Center where the annual Electronic Entertainment Expo is traditionally held; Hotel Figueroa became a common social hub during these E3 events.
Fig is offered as an alternative means for funding video game development from traditional crowdfunding sites like Kickstarter . The goal of Fig is to allow not only the traditional backing of a video game as with normal crowdfunding, but to also enable those that can invest in a game's development to receive a portion of the game's profits once it is released, in addition to other typical rewards that crowdfunded projects allow. During their initial growth period, Fig limited investors in such projects to those that have accredited assets of over $1 million, with plans that once off the ground, anyone will be able to contribute and invest in their offered projects.
Due to the
Jumpstart Our Business Startups Act
Because Fig uses both traditional backing as well as investment support, potential investors will be able to judge on a project's viability based on how many backers the project has accrued, which can help derisk their investment. According to Schafer, he hopes that this will create a reputation for games that would fall somewhere between AAA titles and indie games , allowing for smaller teams to develop games with larger budgets (on the order of millions of dollars) that normally require large publication deals. Schafer also felt that with average crowd-funding projects typically seeking funds via Kickstarter, there is a growing fatigue in the area, where only certain niche projects, such as " Exploding Kittens ", gain attention, and considered Fig a means to counter that fatigue for games that did not fit those niches.
Fig's approach is designed to support only one or two campaigns at a time, in contrast to the volume that are offered by Kickstarter or other crowdfunding services. Projects will be curated by Fig for viability and interest before they are supported, and will allow them to customize the website's project page for the game title to enhance its appeal. Fig may expand to have more concurrent projects if the platform proves successful. Fig will not require projects to accept investment support as long they offer typical backing options. As part of their support, Fargo, Urquhart, and Schafer have said that all future games developed by their respective studios will use Fig-based funding.
In February 2017, Fig announced it has established a "Fig Finishing Fund" available to those projects that have been successfully backed on Fig as to help complete any late-stage development hurdles or final publishing and marketing pushes. Should projects qualify, they will be able to obtain at $20,000 from the Finishing Fund. In 2017, Fig set aside $500,000 of its own funds available for the Finishing Fund pool.
TITLE DEVELOPER PERIOD FUNDING SOUGHT COMPLETED FUNDING (COMPLETED INVESTMENT) NUMBER OF BACKERS STATUS DESCRIPTION
Anchors in the Drift
Oct. 21, 2015 - Nov. 20, 2015
5th Cell had committed to using Fig for their next project, Anchors
in the Drift , a free-to-play role-playing game ;
5th Cell was seeking
$500,000 in investment and funding to finish off the game. The
funding drive failed to meet its goal, only obtaining just above
$100,000 of funding. Bailey stated that while they had anticipated a
larger response based on the success of the
Jay and Silent Bob: Chronic Blunt Punch
Feb. 23, 2016 - Mar. 31, 2016
Funding for Interabang's Jay and Silent Bob: Chronic Blunt Punch, a
Castle Crashers -style brawler game based on the characters created by
Rock Band 4
Consortium: The Tower Interdimensional Games Apr. 7, 2016 - May 11, 2016 $300,000 $348,538 ($249,000) 3,046 Success Interdimensional Games used Fig to fund a sequel to Consortium , entitled Consortium: The Tower . Interdimensional Games had first tried to fund the project through Kickstarter in early 2016, but only raised about CAD $182,000 of the $450,000 they targeted. The developers saw that the Kickstarter would likely fail early on, and starting planning on using Fig as a backup plan. The Fig campaign launched in April 2016, seeking to raise USD$300,000 (about the same as the Kickstarter), and has surpassed this amount.
Make Sail Popcannibal Sep. 29, 2016 - Nov. 2, 2016 $50,000 $58,990 ($32,000) 911 Success Make Sail is a survival game set aboard a primarily ocean world, allowing the player to craft and improve a sea-worthy vessel to explore the world. The game is being developed by Popcannibal , who previously created Girls Like Robots and Elegy for a Dead World . The Fig campaign seeks $50,000 in funding.
Wasteland 3 inXile Entertainment Oct. 5, 2016 - Nov. 3, 2016 $2,750,000 $3,121,716 ($2,250,000) 17,707 Success inXile Entertainment will use Fig to launch crowdfunding for Wasteland 3 , the sequel to its 2014 Wasteland 2 . The campaign, to start in October 2016, seeks $2.75 million in funding and investment, an amount comparable to what Wasteland 2 had obtained through Kickstarter.
Trackless Aubrey Serr Oct. 11, 2016 - Nov. 17, 2016 $20,000 $21,790 ($12,000) 465 Success
Jazon and the Dead 2nd Studio Oct. 31, 2016 - Dec. 1, 2016 $65,000 $30,250 ($18,000) 319 Failure
Kingdoms and Castles Lion Shield Dec. 3, 2016 - Jan. 5, 2017 $15,000 $108,767 ($83,000) 1,382 Success
Little Bug Buddy System Jan. 4, 2017 - Feb. 9, 2017 $35,000
Solo Team Gotham Jan. 18, 2017 - Feb. 23, 2017 $64,500
Pillars of Eternity II: Deadfire
Apr. 25, 2017 - June. 8, 2017
Phoenix Point is a single-player , strategy , turn-based tactics ,
"sci-fi horror " video game being developed by Snapshot Games, an
independent video game developer in
* ^ A B Sinclair, Brendan (December 14, 2015). "A peek under Tim Schafer\'s Fig leaf". GamesIndustry.biz . Retrieved December 15, 2015.
* ^ Hall, Charlie (September 3, 2015). "
Harmonix partners with
crowdfunding site Fig, takes seat on advisory board". Polygon .
Retrieved September 3, 2015.
* ^ Grubb, Jeff (May 10, 2016). "Star developer Cliff Bleszinski
invests in crowdfunding game site Fig".
* ^ A B C D E Kohler, Chris (August 18, 2015). "Kickstarter Superstars Launch a Crowdfunding