Crowdfunding venture Fig Publishing has been approved by the United States Securities and Exchange Commission to offer game shares for Double Fine Prodctions latest project, Psychonauts 2.
Fig Publishing is a crowdfunding platform that was created by Justin Bailey and Bob Ippolito and helped by a group of independent developers including Double Fine’s Tim Schafer. The campaign to make a sequel for the 2005 hit was launched last year and hit its $3.3million by early January 2016.
Fig’s latest movement with the SEC approval means that crowdfunders can now reap rewards from backing a successful campaign, starting with "game shares" for Psychonauts 2. Those who registered their interest in the scheme at the time will now be able to buy the shares and earn returns based on that games sales. The more succesful a game is once it has launched, the better the return to those investors.
Justin Bailey, the CEO and co-founder, said: "Fig is committed to evolving video game publishing and crowdfunding in this direction that benefits fans, communities, and developers, and ultimately to the making of great games."
6,000 shares are on offer for Psychonauts 2 at a price of $500.00 per share, which could raise an additional $3million for the project. The return is 30% of Fig’s revenue share which on the basis of the game being priced at $60.00 could return shareholders a total of $3.60 for every unit sold.
InXile Entertainment will launch a Fig campaign for Wasteland 3 on October 5th which will have the option of game share returns and the platform hopes to support more independent titles in future using this scheme.
For more information on the scheme, a breakdown of figures and information on taxation, including for investors outside of the U.S., visit the SEC’s archive.