Huh, I was wondering if this was legal (seems like an unregistered securities offering, which has semi-strict requirements even after 2012) and then read this at the bottom:<p>> The securities offered by the issuers on the Site (the "Securities") may be sold only to (A) investors who are (i) "Accredited Investors" as defined in Rule 501 under the U.S. Securities Act of 1933, as amended (the "Securities Act"), or (B) certain eligible investors who are not "U.S. persons" as defined in Rule 902 under the Securities Act, or (C) otherwise eligible to invest in Securities as discussed elsewhere on the Site<p>I'm assuming C) covers general crowdfunding investors but I also thought that you still had to check net worth/etc. which I didn't see going through the site anywhere (though admittedly I did a very cursory glance).
I guess I am a bit curious as to why this is being posted now since Fig has existed for a while. People talked about it and the fact that the founders of it used it for funding of Psychonauts 2. It definitely has had some success stories such as What the Golf? which is available on Apple Arcade already and I found quite fun. Outer Wilds and to a lesser extent Pillars of Eternity 2 are also games that seem to have been successful that used the platform.
I have only ever funded one project on Fig, and I regretted it. The developers missed their release target by several years, which wouldn't be that big a deal except that they were also pretty poor communicators for a lot of that time. Then they went Epic exclusive right before release.<p>I'm not saying this reflects badly on Fig per-se, just crowdfunding in general. I'll never do that again.
Per-game fractional equity stakes are something I am also considering for my own endeavors. I think it makes sense for rapid release schedules, where you plan to build the "factory" that can ramp a dedicated pipeline of hypercasual games with in-game monetization on a predictable and speedy timeframe<p>It would be interesting to explore 100% crypto smart contract solutions to this. I know a couple of years ago a lot of people were interested in fractional ownership for real estate development. But I am not sure what if it went anywhere
The book "Blood, Sweat, and Pixels" mentions Fig. It was started by several gaming industry developers/producers saw the success that Kickstarter offered the gaming industry.
Here are the SEC Edgar filings for Fig- no need to speculate what is being offered <a href="https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001658966" rel="nofollow">https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&C...</a>
i was one of those who funded pillars of eternity 2 through fig. It turned into a dud, the game didnt sell well. I took a 50% haircut.<p>the actual mechanics were all onboard. Private shares were held using computershare and proceeds paid out in dividends.