Fig Apr 21, 2020 10:46:27 GMT -6
Post by The Ultimate Nullifier on Apr 21, 2020 10:46:27 GMT -6
Republic Acquires Indie Crowdfunding Company Fig
Posted on April 20, 2020 | by Gavin Sheehan
Last week, a bit of an interesting acquisition as the company Republic acquired the indie video game crowdfunding company Fig. The word came down from GamesIndustry.biz, who reported the deal was made last week and then quietly announced to the public. Republic, if you're not familiar with them, run a similar business platform as theirs is garnered more toward startup businesses. So while it feels like a natural fit on common ground, it is weird they chose to venture into video gaming rather than a business similar to what they do when it comes to businesses. You can read the statement from Repulic below as they welcome the new company into the fold.
Republic is excited to announce that we have acquired Fig, the world's leading video game publisher that offers video game investments. Fig pioneered a new, better way to fund and develop video games. In the traditional model, a small group of executives at big companies decide which games get made. On Fig, fans and individual investors help make the call on what gets funded. Investors choose which games they want to support through an investment in Fig and can be rewarded with a portion of the revenue depending on how successful the game is. When a game's development is funded on Fig, it gains the support of hundreds or thousands of investors who all have a stake in its success. They become champions of the project, with opportunities to participate in early versions, the chance to give valuable feedback, and helping to promote the game to their friends once it launches.
This innovative model has worked extremely well. Since 2015, investors on Fig have successfully funded more than 40 games, and have been paid out an impressive $6,400,000 so far. Returns on individual investments have reached as high as 565% and Fig has enjoyed 3 straight years of positive returns. Games funded on Fig have won prestigious awards and are highly rated by gamers.
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