Fig’s investment-based funding platform is the first of its kind in the world of gaming, and SEC approval opens the door for future investment-driven crowdfunding opportunities.
Fig Publishing launched in 2015 with an advisory board helmed by crowdfunding veterans Tim Schafer, Brian Fargo, and Feargus Urquhart. The platform specifically targets independent games and developers who wish to sidestep traditional publishing options in favor of publicly sourced funding.
Unlike Kickstarter and other crowdfunding platforms, Fig allows backers to claim a percentage of sales revenue from their backed projects in lieu of traditional rewards and incentives. This week’s SEC ruling allows the platform to pursue its previously announced plans to offer Fig Game Shares for its published games, giving investors a cut of the profits in return for their support.
“Enabling fans and communities to directly support and financially benefit from their favorite games is transformative to the publishing of interactive entertainment and beyond,” said Fig founder and CEO Justin Bailey. “Fig is committed to evolving video game publishing and crowdfunding in this direction that benefits fans, communities, and developers, and ultimately to the making of great games.”
The Fig platform launched last year with a high-profile crowdfunding project for Psychonauts 2, a long-awaited sequel to developer Double Fine’s acclaimed 2005 platformer. Psychonauts 2 went on to earn more than $3.8 million in backer pledges, eclipsing its initial funding goal of $3.3 million.
The platform hosted numerous crowdfunding projects in the months afterward, funding the development of upcoming games like Consortium: The Tower, Jay and Silent Bob: Chronic Blunt Punch, and Outer Wilds. In-progress Fig projects seek funding for Popcannibal’s Make Sail and Trackless from 12 East Games.
Fig will reach out to Psychonauts 2 investors with an option to purchase Fig Game Shares in the weeks ahead. User investments can be tracked at Fig’s website and via SEC online services.
- Paramount+ now has 32.8 million subscribers
- Elon Musk suggests Starlink now has 250K customers
- Ring’s new Pet Profile feature can help find your lost dog
- You can now use Pokémon music in your YouTube videos
- Google Chrome now tracks prices, remembers abandoned shopping carts