Video game maker successfully crowdfunds over $10 million for project

Chris Roberts discusses Star Citizen in Kickstarter Video – Source: Screen Capture

Chris Roberts is feeling good. He has persuaded over 150,000 people to kick-in $10 million for a product that doesn’t exist and won’t be completed until the end of 2014. But it’s not the pile of cash that’s lighting him up, not even the opportunity to roll out the game’s full feature-set way earlier than previously budgeted, it’s the vindication this public investment represents.

If there’s one thing the world has learned from the various successes and failures of video game crowdfunding — from Roberts’ Star Citizen and Tim Schafer’s Broken Age and Brian Fargo’s Wasteland 2, to any number of aborted Kickstarter’s such as Denis Dyack’s Shadow Of The Eternals — it’s that the consumer’s trust and regard for the individuals who make games is at least as important as the pitch or the game idea or the various deals and tchotchkes on offer.

Speaking to Polygon, Roberts enthused about crowdfunding, which he said represents a “democratization” of the game project green-lighting project, previously the exclusive domain of a very small number of business executives.

“Consumers are stepping into more of the role that publishers traditionally filled,” he said. Publishers base their decisions on a developer’s reputation and likely unit sales. He said that consumers also base their decision on reputation, but their second factor is not mass-marketability, but individual desire for the game to exist.

Evidently, there is a significant desire in the breasts of gamers for a futuristic space-combat game, from the man who made Wing Commander such a PC gaming supernova, back in the 1990s.

“People that have made games before, like myself or Tim Schafer or whoever, are finding it easier to get a higher amount of funding,” he said. “People just feel comfortable. ‘Okay, I played some of his games, I liked them, so my bet is that they’re going to make another good game for me.’

Pages: 1 2 3

HEADLINE NEWS

Los Angeles TimesCrowdfunding campaign's goal: Buy Twitter, then ban TrumpLos Angeles TimesFormer undercover CIA agent Valerie Plame Wilson is looking to raise enough money to buy Twitter so President Trump can't use it. Wilson launched the crowdfunding campaign last week, t [...]

ForbesHow One Startup Raised 10 Times Its Original Crowdfunding GoalForbesRunning a successful crowdfunding campaign isn't easy. The odds are heavily stacked against you, as very few end up succeeding. "Statistically, up to 89% of campaigns fail. Kickstarter has the highest [...]

ForbesThe Ultimate Pre-Launch Crowdfunding ChecklistForbesCrowdfunding is not limited to the platform where you launch your campaign. Instead, it has become a valuable way to transform your idea into a mainstream business. In order to head in that direction, you must execute a number [...]

SCORE: Dos and don'ts for crowdfunding small businessesPost-BulletinI shared in my last week's column that financing was a common issue small-business clients bring to SCORE mentors. A reader from that column emailed me and said, "You mentioned crowdfunding as an option [...]

ForbesCrowdfund Strategies - Mifold Hit Gold On Indiegogo But It Was VC And Angel That Made It PossibleForbesFast forward to 2015, and Sumroy is launching his product – now dubbed Mifold – on the Indiegogo crowdfunding site. “July 14 was the most exciting day of my life,” he recalls. [...]

Wicked Local LexingtonKids' tech literacy crowdfunding campaign a successWicked Local LexingtonResponding to a crowdfunding campaign by the Cary Memorial Library Foundation to raise $5,000 in five weeks, 82 generous Lexington donors and others helped surpass the goal, giving more [...]

U.S. News & World ReportNo Cash for Hate, Say Mainstream Crowdfunding FirmsU.S. News & World ReportThe block on mainstream crowdfunding is just the latest blow to far-right activists operating online. In the last 24 hours, neo-Nazi website the Daily Stormer had its domain regi [...]

Digital Arts Media Network, Inc. Purchases An Equity Stake in Cannabis Crowd Funding Company, Fundanna, Inc.Nasdaq23, 2017 (GLOBE NEWSWIRE) -- Digital Arts Media Network, Inc. (OTCMKTS:DATI), a specialized tech accelerator leveraging the Public Accelerator-Incubator (PAI) model, has c [...]

WFAAMore Dallas teachers turn to crowdfunding for classroom suppliesWFAATight budgets mean more Dallas area teachers are seeking out crowdfunding options to obtain the supplies their students need. The site DonorsChoose.org featured 371 active projects marked "urgent" for Da [...]

Eater LondonFat Macy's Launch Crowdfunding Campaign to Open Restaurant in PeckhamEater LondonFat Macy's — a food social enterprise which aims to train young Londoners living in temporary housing — have launched a crowdfunding campaign. Their aim is to raise £55,141 to fund a [...]

CFB Finance

Marketwired

  • Crowdfunding
  • Crowdfund
  • Peer to Peer Lending
  • FinTech
  • Reg A+
  • Reg CF
  • Crowdfunding USA

Press Release

CrowdFund Beat Media

Cryptocurrency is Wild West of Finance lnkd.in/gJF4zqe

Live Crowdfunding .tv

What's Next Step in Regulation A+ JOBS ACTS Title IIII :L Interview : Steve Cinelli with Brian Korn Securities and Crowdfunding/Peer-to-Peer Lending Lawyer, Watch more video library | Conference | Interview | Campaign Showcase | Research | Education |