Fig’s games have returned 245% for crowdfund investors
Fig Publishing Inc., a video game crowdfunding platform that shares profits with backers, revealed today that the four games it has published so far have made an impressive 245 percent return on investment.
Fig launched in 2015 shortly after the U.S. Securities and Exchange Commission made changes to the JOBS Act, opening up equity crowdfunding campaigns to nonaccredited investors. That meant that backers could now make money off successful campaigns, which offers a bigger incentive to invest than the usual rewards such as T-shirts and collectibles.
The company later won permission from the SEC to create Fig Game Shares, which allow its crowdfunding campaigns to work more like a mini-IPO. Rather than putting money directly into a campaign, Fig backers buy the Game Shares instead.
“In just two years, we already have seen four games that were community published on Fig generate returns to investors,” Fig Chief Executive Justin Bailey said in a statement. “The speed of these returns to individual investors is unprecedented for our industry. As gamers increasingly reject donation-only crowdfunding, our model of community publishing provides indie developers with a now-proven method to bring their artistic creations to life.”
Fig’s most successful game so far was also its first release, “Kingdoms and Castles,” which made a more than 300 percent return. Meanwhile, “Solstice Chronicles: MIA” barely broke even at a 104 percent return, but the company noted in a blog post that the game still has two years of revenue sharing left in which backers will continue to turn a profit.
“Trackless” is the only of Fig’s games that has not made a return on its investment, earning just 12 percent of its funding back so far. But Fig said the game has received critical acclaim, and the company will “continue to work closely with the developer to promote future sales, partnerships and updated content.”
“Outer Wilds” (pictured), which was the first game funded on Fig, has made a more than 220 percent return on its investments so far even though it has yet to be released. This is because the game recently received additional funding from Annapurna Interactive, which may have bought up its Game Shares to become its new publisher. It’s unclear how exactly this transaction worked behind the scenes, but the revenue sharing period for “Outer Wilds” has ended, so backers will not receive any additional profits from the game’s eventual release.
Photo: Outer Wilds/Fig
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