A new crowdfunding site, geared specifically towards games, has hit the Internet, created by indie game veterans Tim Schafer, Brian Fargo, Feargus Urquhart, and Double Fine's former COO (now Fig CEO) Justin Bailey. Fig promises to help developers create better games.
How does it differ from sites like Kickstarter? Fig plans to allow fans not only help fund games with reward tiers, like early access to the game, but also through investment. That means fans have the opportunity to see returns on the net revenue of whatever game they want to invest in.
So then, how can you be an investor? First, you must be an Accredited Investor (info on what that is and how to become one here). If you are one, you can then invest in a project. However, at minimum you must invest $1000, with a maximum set for each specific game. If you're not an Accredited Investor, Fig says you should be able to invest sometime in the future. For more questions on investment with Fig, check out here.
Right now, Fig plans to only host two campaigns per month, however that may change in the future. Campaigns will be determined through an application/pitch process that is overseen by staff and the advisory board, featuring Aaron Isaksen, Co-president, AppAbove Games (co-Founder of Indie Fund, organizer of IndiCade, Chairman of IndieBox); Brian Fargo, CEO, InXile Entertainment (Wasteland, Fallout, Bard's Tale); Feargus Urquhart, CEO, Obsidian Entertainment (Pillars of Eternity, Baldur's Gate); and Tim Schafer, President and CEO, Double Fine Productions (Psychonauts, Broken Age, Brutal Legend). They will ultimately make the decision of what will be featured on Fig based on the pitch's development plans (in other words, is it set up to potentially be a good game) and potential success in crowdfunding.
There will be no partial successes rewarded either as a campaign on Fig must reach its goal, of which both rewards-based and investment funds go toward, if it is to be awarded any funds. If it does reach its goal, Fig will charge a fee of 5% of the rewards-based funds. If it does not reach its goal, Fig will charge no fee.
Currently, Fig has a campaign going for Outer Wilds, which describes itself on Fig as, "Equal parts astrophysics simulation, narrative adventure, and backpacking in space, Outer Wilds is Majora’s Mask meets Apollo 13." It is currently in Alpha and the most recent winner of the IGF Grand Prize. It is being developed by Mobius Digital. For more information on the project, check out the Fig page.
What do you think of Fig? Does the investment angle give it a good enough angle? How about the advisory team and pitching process? Will the higher level of quality assurance help ensure better projects reach campaign status?
