What Is Fig?
Have you ever heard of Fig? If you like games, there is certainly a chance that you already did, as Fig, which is a community funding and publishing platform specialized in independent games, has already been behind the fund of some high profile games like Pillars of Eternity 2: Deadfire (made by Obsidian) and Wasteland 3 (made by InXile).
Some other games whose development was funded by Psychonauts 2, Thimbleweed Park, Phoenix Point, Consortium: The Tower and Hyper Light Drifter. Why are we talking about this company? Because Fig is starting Shard, a new blockchain initiative.
The company defines its mission as providing game studios and their fans a way to approach game development without needing publishers or corporate investors. In Fig, the gamers are the investors.
How Does Fig Work?
Fig provides the developers of games with tools to publish and distribute their games while making contact with the gaming community. The community is always the focal point of the platform, as its main mission is to empower both the creators and the communities.
By using Fig, the developers main 100% of the creative control of their IPs, along with the ownership, which means that they do not need a publisher anymore. The community is able to invest Fig Game Shares, which are a way to fund the game and to receive some profit for it after the game is successful on the market.
To get your game on the platform, you have to submit a pitch for it to be accepted on Fig. The company is completely compliant with the SEC policies, so only accredited investors can take part in the process.
How To Invest At Fig?
The main difference between something like Fig and Kickstarter is that you do not only pledge and get your reward, you actually invest in the success of a certain game. If the game is able to make more money, you will also get more money.
There is still the option for reward-based investments that work just like other platforms, but the user can also invest in the platform. You basically buy a stock. The value of this stock is measured by how well the sales of the game will be because Fig will get a share of them.
This means that a very successful game will actually give you more money for your investment. The dividends are calculated every six months and the investors receive a share that is proportional to how much they actually make selling the game.
Fig For Developers
If you are a developer and you are interested in how the system works, you will receive about 97.5% of the money that you raised via pledges and money from the investments. This money will enable you to finish your game and to publish it but then you have to give about a third of your game sales receipts to the investors back.
The idea is that the investors will not own any part of your IP or have any type of control over your game, but they will get dividends from your profits forever with the game that they backed. You have to send a pitch to participate in Fig and the company states that you should send it at least 45 days before the pitch.
— Dean Takahashi (@deantak) May 31, 2018
Fig Buys Ownage Blockchain Company
If you are still wondering what does this platform has to do with crypto, the answer lies in Shard. Fig has recently started to develop this platform, which will be a decentralized solution for digital publishing that will use the blockchain technology.
Fig has bought Ownage, a blockchain company, to develop the platform. Developers will be able to use the platform whether or not they used the main Fig platform. The platform shall be 100% open and decentralized. The creators of Shard have stated that their goal is to create a platform that will really be “owned” by all the community instead that only by a share of them.
The first game that will be made on this platform will be a new IP from Gary Gygax, creator of Dungeons and Dragons, a famous tabletop RPG.
The Fig Team
The advisory board of Fig is made of game developers with a lot of experience in the market. Randy Pitchford is the president, CEO and co-founder of Gearbox Software, Tim Schafer is the president and CEO of Double Fine Productions, Aaron Iasksen is the co-founder of Indie Fund, Alex Rigopulos is the co-founder and Chief Creative Officer at Harmonix Studios and Brian Fargo is the CEO of InXile.
Even without using cryptocurrencies so much on its main platform, Fig is definitely an interesting investment for people who like games. The Shard platform is also very interesting and it can have a revolutionary impact in the industry if it is really able to create a community around it.