Harmonix to Crowdfund Next Game Through Fig

[Lizzy Finnegan]

Harmonix to Crowdfund Next Game Through Fig

The Rock Band creators have teamed up with new crowdfunding platform Fig.

Last month we brought you the story of Fig [http://www.escapistmagazine.com/news/view/142014-New-Video-Game-Crowdfunding-Site-Fig-Lets-You-Buy-Equity], a new crowdfunding platform with an exclusive focus on video game crowdfunding that will also offer the potential for equity investments. Fig was launched in August by Former COO at Double Fine Justin Bailey. Bailey teamed up with former Double Fine colleague Tim Schafer, inXile's Brian Fargo, and Obsidian's Feargus Urquhart, all of whom have pledged to launch new video game campaigns on Fig.

In a press release today, Rock Band developer Harmonix announced a partnership with Fig, as well as an upcoming unannounced title that will be funded through the crowdfunding platform.

"Harmonix has successfully gone the traditional crowdfunding route before, and now we are looking to explore offering both rewards as well as investment opportunities to the community when we launch our next title via Fig in Q4 of 2015. I'm looking forward to sharing more information with everyone very soon," said Harmonix CCO Alex Rigopulos.

Harmonix also announced that Rigopulos will join Bailey, Schafer, Fargo, and Urquhart as a member of Fig's advisory board.

Investment crowdfunding opportunities on Fig are currently limited to accredited investors only, although the company has shared plans to open investment opportunities to everyone "in the near future." In addition, Fig only hosts two different campaigns at any given time.

The press release contained two disclosures, which can be read below.

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.

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[Neurotic Void Melody]

...Bailey. Bailey...

Awww...I read that as Bill Bailey. You disappoint me yet again, escapist.

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 insecurities.

There, fixed it for you guys. You're welcome! XD

Captcha: Make haste. I know, cappy. I'm on it. My people need me.

 

[SilverHunter]

Ha... HAHAHAHAHA! Hahahahaha.

I guess Harmonix doesn't want to make that game then. No, seriously... No one is really going to use Fig. They have Kickstarter, they have Indiegogo, and they have Steam Early Access along with site-specific crowd funding. Fig's current darling has barely cleared 100k. They might make it... But I severely doubt they'll get more than what they are asking for initially. And while it's 'curated', that doesn't mean crap.

The only sad news is that it means Obsidian and Mr. Fargo's next ventures will flop and flop hard on there... Until a month later when they release the same project on Kickstarter and crush the goal in a few days. Seriously...

Kickstarter has a massive potential audience.
Indiegogo lets you take money even if you don't hit your goal.
Self crowd funding lets you avoid Kickstarter cuts.
Steam Early Access is easier to get into than... Well there isn't anything adequate enough to compare its openness to...

Fig...? You can invest! If you are so frakking well off enough that it doesn't even matter at that point for you, that is. They offer nothing to the casual backer crowd.

 

[Ylla]

snippy snappy

This comment feels very shortsighted, for starters i dont think it was Kickstarter's popularity what brought those 3 million bucks campaigns to completion, it was the people behind them, so if DoubleFine, InXile and Obsidian decide to go someplace else then i am going with them, i didnt gave them my money because of Kickstarter popularity, but because it was them making the games.
Also they are clearly aiming higher with this, they seem to want big investors for 10-20 million dollars budgets. A person becomes a backer because theres no other way to make a given game, for the average backer its all about getting the game done. So i think its better if a rich dude pays a bunch of money to get the game done instead of me giving 60 bucks and pressuring my friends to do the same.
They also offer the same tiered rewards to casual backers anyway... And Early Access isnt even a crowdfunding platform, and Indiegogo cant make this much money, so honestly i dont get this comment at all.

 

[thewatergamer]

Great idea lets get more devs involved in that legal mess known as Fig...Seriously have they not considered the countless legal problems with the whole "equity investment" thing? That's not even considering that crowd-funding in general is losing popularity due to so many scams and mismanaged projects... what makes them think Fig will do any better?

 

[Gennadios]

So i think its better if a rich dude pays a bunch of money to get the game done instead of me giving 60 bucks and pressuring my friends to do the same.

That's basically what will make or break Fig, but really, if the rich dudes at EA weren't willing to fund Fargo and Urquhart, how good is the bet that that rich dudes with no ties to the gaming industry will?

For the "average" backer, simply creating an account on a backer's platform is a massive hurdle, and KS and a few others already have a user base. Plus, KS got it's existing users from projects surfing on a wave of nostalgia, that wave receded somewhat.

Finally, Shafer & Co kind of pissed their good will away with a string of poorly managed products already. I don't care if the second coming of Quest For Glory comes to Fig, I'm not funding anything through it.

 

[Battenberg]

3 things:

1) Tim Schafer's going to be crowdfunding again? Either the guy has a memory like a goldfish or he thinks everyone else does.
2) Harmonix seriously have the gall to ask people to crowdfund them when they're about to release a game which essentially has an RRP of £110.
3) Fig get exclusive distribution rights? Seriously?

Fig seems doomed from the outset here, shame to see Urquhart and Fargo jumping in bed with such poor company though.

 

[Sight Unseen]

2) Harmonix seriously have the gall to ask people to crowdfund them when they're about to release a game which essentially has an RRP of £110.

What's your point here? I assume you're talking about Rock Band, but those instruments have an extremely low profit margin. They make more money from selling DLC at $2 a pop than they make from selling band in a box kits.

Also, Harmonix is self publishing Rock Band 4 alongside MadCatz so they don't have a huge publisher to bankroll their games.

 

[Something Amyss]

This reads like PR.

2) Harmonix seriously have the gall to ask people to crowdfund them when they're about to release a game which essentially has an RRP of £110.

Why? They're not asking for you to back Rock Band 4.

 

[Callate]

Well, a reasonably well-known developer will make for an interesting test of whether Fig can pull something off or not, in any case. I'm not in a hurry to throw money behind it, but I'll be watching.

 

[John Markley]

As big fan of crowdfunding, I'd love to have another competing site. Not thrilled about the idea of one with ties to Double Fine, though.