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[–] SkepticalMartian 0 points 7 points (+7|-0) ago  (edited ago)

only Accredited Investors with at least $1 million in net assets can join in, and they have to invest at least $1,000.

That pretty much kills it for most everyone here. This just turns in to crowd funding for the rich, and doesn't guarantee that real gamers will get the games they want to see. Involving real gamers is what makes crowd funding games special in the first place. All this will guarantee is that game direction is driven by the profit hungry which is often at odds with what real gamers want to see.

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[–] ChillyHellion [S] 0 points 2 points (+2|-0) ago 

It sounds like they're planning on lowering that restriction after a test run, but I agree with you that it doesn't look like a recipe for a good game.

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[–] bulksalty 0 points 3 points (+3|-0) ago 

That restriction is part of US law, to sell unregistered securities you can only sell to accredited investors. Registering their securities for an equity is the process of filing for an IPO, which would likely be required for each game funded via that method, and is expensive (both fees and lawyers time to ensure you didn't screw up or mislead investors).

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[–] sparkybear 0 points 5 points (+5|-0) ago 

This is an awful idea. They are going to run into so many legal issues because they are now setting up either an investment tool, monitored by the SEC, or some kind of partnership in the company which could make the donors liable if the company they back gets sued.

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[–] ChillyHellion [S] ago 

That's a good point. I don't think the idea is worth the risk, to be honest. But it's interesting news. I don't much care for Kickstarter games, so I was surprised to see this project taking it a step further.

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[–] tolstoshev 0 points 4 points (+4|-0) ago 

Tim Schafer on the advisory board? https://www.fig.co/about

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[–] psymin 0 points 2 points (+2|-0) ago 

Fuck Tim Schafer. I've enjoyed games he's been a part of in the past .. but this will not have any support from me. That guy is terrible.

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[–] Bobfish_Almighty 0 points 1 point (+1|-0) ago 

Tim Schaefer...

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[–] gamesjunkie 0 points 1 point (+1|-0) ago  (edited ago)

Ha! I heard about Fig earlier today. A new crowdfunding site started by Tim "I-Stole-Your-Money-On-A-Crowdfunding-Site" Schafer, complete with a review-based barrier to entry where Schafer himself basically decides if he likes your game and if it gets the opportunity to be crowdfunded. What an amazing idea! What's not to love?

Edit: After engaging directly with Tim and someone whom I can only assume is one of his fanboys, I finally know firsthand that he is a fucking idiot, as is anyone who defends him.