Fig Publishing announced today that fans and investors can now invest in the shares they reserved in Wasteland 3, the new title coming from InXile Entertainment.
The Securities and Exchange Commission approved Fig game shares for Wasteland 3, and that means that fans and investors alike can share in the financial success of the game, if they purchase shares contingent on SEC approval. The approval is another boost for Wasteland 3, which has already raised $3.1 million in crowdfunding money.
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Fig Publishing, crowdfunding platform that allows fans and investor to own a stake in a game and share in its profits, will start reaching out to investors with details to complete their investments at fig.co.
“When we first started, crowdfunding fans used crowdfunding almost as a pre-order system. We had no way to give them the opportunity to share in our financial success. With the advent of Fig, our fans can now share in the financial benefits of a successful game, which was an evolutionary shift in game development and publishing,” said Brian Fargo, CEO of inXile Entertainment, in a statement.
Both accredited investors (those who are savvy and have a high net worth) and non-accredited investors will be able to buy the shares on the Fig web site. Fig is still the only crowdfunding and publishing platform allowing non-accredited investors to financially support video game development and publishing. Wasteland 3 is the second game funded on Fig to be supported by Fig Game Shares qualified by the SEC, Psychonauts 2 being the first.
“As other crowdfunding platforms continue to struggle, Fig continues to transform the entire video game ecosystem, from the way fans interact and support their favorite games, to the way games are published,” said Justin Bailey, founder and CEO of Fig, in a statement. “Fans now possess the ability to support the development of their favorite games and financially benefit from their success.”
The Wasteland 3 Fig crowdfunding campaign raised money from 17,707 fans, who gave their support for the sequel to the critically-acclaimed game of the year Wasteland 2. The campaign generated $2.25M in investment interest. With SEC qualification of Fig Publishing, Inc.’s offering statement, fans who registered their investment interest will be able to buy their Wasteland 3 Fig Game Shares.
Backers should review the offering circular for Fig Game Shares — WL3 that will be available on Fig’s website and the SEC’s website.
Since its inception in 2015, Fig has had four of the top ten most successful campaigns, and each have offered Fig Game Shares as well as traditional rewards. Pillars of Eternity II: Deadfire ($4.4 million, ranked No. 1), Psychonauts 2 ($3.8 million, ranked No. 2), Wasteland 3 ($3.1 million, ranked No. 3) and Jay and Silent Bob: Chronic Blunt Punch ($445,000, ranked No. 10) make up 71.6% of the total amount of money promised to all the top ten games combined.
Fig was founded by Bailey and Bob Ippolito, and was established with help from a coalition of independent game developers including Brian Fargo, Feargus Urquhart, and Tim Schafer.