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Crowdfunding Video Games
editorial

Crowdfunding Video Games

The advent of crowdfunding has permanently changed the video game industry. Within the last decade, there have been many high value success stories with this regard, and they’re showing no signs of stopping, either.

The main strategy behind the crowdfunding process involves leveraging strong social network ties, setting initial, achievable goals and increasing the hurdles, by setting new goals with the backing of existent funders. The strategy has been so successful, that last year saw a massive embrace of the crowdfunding model across different strata of life.

Indiegogo is one of the main crowdfunding sites today, with hundreds of game campaigns live on their site globally. Although, some of the site’s successes can be put down to flexible funding as allowed by the company.

Kickstarter is another big name in world of crowdfunding. Presently, its games category ranks number one for funds raised and success rate. The company’s data suggests that once a project is able to raise 20% of funds needed, the probability of the project becoming a Kickstarter success climbs to 80%. Kickstarter has raised nearly $2 billion and video games account for more than a quarter of that colossal figure.

Such numbers from Kickstarter, and the fact that it has continued to grow, unsurprisingly led to new competitors entering the crowdfunding space. Take GameLaunched: a vertical platform that focuses on providing a range of services for the international gaming community. The company supports all platforms, including accessories and hardware. It also supports popular sites that contains news about bingo, casinos etc.

The team behind GameLaunched consists of passionate gamers, with a focus on helping developers achieve their goals. The platform also offers a marketplace in which games and accessories can be sold directly to the masses. That said, the platform is still in its early days, but it shows a possible shift towards niche crowdsourcing platform in the future.

Away from the USA, Gambitious is the main crowdsourcing platform in Europe. It has successfully helped many game owners raise impressive amounts of money. Train Fever for instance, raised over €250,000. However, as US based platforms begin to extend their reach to the international community; the competitive environment could change for Gambitious and others in its mould.

One such platform has already fallen by the way side in the face of the massive Indiegogo / Kickstarter duopoly domination of the crowdfunding space. 8-Bit Funding, as a company, first focused on providing a crowd funding solution for just gaming companies, but they were unable to compete. They fully acknowledged their inability to do so and cited their poor quality website as one of the main reasons for their failure. The team behind 8-bit has since made a U-turn and have instead placed their resources in IndieGameStand. This is a platform focused on helping independent games hit the spotlight.

Having said all of this, one thing is certain. The gaming industry has fully embraced the benefits of crowdfunding and rightly so. There are many other platforms in the gaming scene, aside from those mentioned here and there will be many more in the future. The tactics for successfully crowdfunding games are likely to receive some heavy edits as the technology progresses, but crowdfunding, itself, is certainly going nowhere soon.

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