CEO Justin Bailey brings together industry veterans Tim Schafer, Feargus Urquhart and Brian Fargo to re-invent how games get funded
The Fig has launched of its funding platform, which provides developers a new way for their games to be financed and produced. Fig is the first platform targeted solely at video games that offers reward-based crowdfunding as well as access to investment crowdfunding. Fig’s aim is to provide a curated experience that strikes a balance between titles from well-known independent studios and ones from up-and-coming indie teams. Investment crowdfunding is currently limited to accredited investors only, but pursuant to a recent regulatory development, Fig plans to open up investment opportunities to everyone in the near future.
“Games are one of the leading sectors in rewards-based crowdfunding and continue to evolve the whole medium; Fig’s approach is to customize our platform to what works best for games,” said Justin Bailey, CEO of Fig. “This includes supporting investment crowdfunding where the fans have the opportunity to participate in the financial success of the games they help make possible.”
Fig received seed funding for its launch from Spark Capital, a top-tier venture capital firm that has invested in many leading creative companies including Oculus, Twitter and Slack.
Fig’s advisory board – Urquhart, Fargo, and Schafer – who have created some of the most successful rewards crowdfunding campaigns and game launches, will participate in the pitch process and mentoring of the developers using the platform. They will also be using Fig to fund future titles from their studios Obsidian Entertainment, inXile Entertainment and Double Fine Productions.
“Feargus, Tim and I have all experienced the many challenges of bringing our games to market and nurturing great talent along the way,” said Brian Fargo, CEO of inXile. “We’re proud to be creating an ecosystem that better supports developers and their fans in the quest to bring their passion projects to life—and we believe Fig will become the best option to get games funded in the future.”
For Fig, funding is just the start – plans are in place to support developers through the entire life cycle of their games. The company has already started filling its pipeline with prospective titles for 2015.
Fig’s first campaign, Outer Wilds, won the 2015 Independent Games Festival (IGF) Awards Grand Prize and Excellence in Design. Created by Alex Beachum, the title will be developed by Masi Oka’s (of Heroes’ and Hawaii-Five-O fame) Mobius Digital studio. Outer Wilds’ funding goal of $125,000 will give the team the tools to upgrade the artwork, polish the game systems, and bring much more content to the experience. For more information on Outer Wilds or to contribute, click here.
“We’re excited about this opportunity because, as indie developers, creative control and IP ownership are critical,” said Masi Oka. “Having a crowdfunding platform specifically targeted to games also allows us to reach and focus our marketing to the gaming community.”
As the only funding platform created by gamers for gamers that offers reward, equity, and debt-based funding, Fig empowers developers and passionate fans alike to bring well-known franchises and undiscovered indie titles to market. Fig was founded by Justin Bailey, Freeman White, and Bob Ippolito and was established from a coalition of independent game developers including Tim Schafer, Feargus Urquhart and Brian Fargo. For more information, visit www.Fig.co and follow us on www.twitter.com/playfig andwww.facebook.com/playfig. Interested in funding on Fig? Send your pitch to email@example.com.
- 1. Fig’s investment crowdfunding model provides an opportunity for eligible investors to participate in the potential success of a particular game title by investing in a production company created exclusively for that title. Fig’s production company holds exclusive distribution rights to the title, while the developer retains the title’s IP rights.
- 2. Rewards campaigns are available to all, but investments are only available to accredited investors who understand and can afford the risks of investing in private securities.