Fig Blog

Crowdfunding and Investing

October Wrap-up

Happy Halloween! We’re wrapping up another busy month as we unwrap Halloween candy and cram it into our faces. This month was filled with ups and downs, lots of work and lots of fun, too! Let’s start by checking out some of the developer updates from this month:

Our own Justin Woodward traveled to TwitchCon this month to spread the word about the upcoming video game version of the popular board game, Flash Point: Fire Rescue from RetroEpic! During the livestream, they played the original board game version as well as the Steam version (which you should totally add to your Steam wishlist so you can be notified the moment it releases!). You can enjoy the archive of the livestream here.

We hope you all have a happy and safe Halloween!

Introducing Obelus

In Obelus, an arcade combat side-scroller, you’ll play as Dave, an interplanetary insurance salesman who travels the galaxy fighting aggressive fauna with your trusty corporation-approved mech AI. Obelus questions the effects of AI and big data on humanity as our world becomes more reliant on technology.

As you explore the furthest reaches of space to find the last few uninsured members of humanity, you realize the AI seems to be a little too manipulative. It no longer seems like it’s there to help you on your journey…

As an accomplished musician, the developer plans to score the game as if it were a movie, without relying on repeating the same few tracks over and over throughout, giving each event matching accompaniment. Check out the campaign page to listen to a couple of the 80s synth inspired songs that will accompany Obelus. Check out the campaign page here!

Currently on Fig

Crazy Justice, a third person, cel-shaded, fast-paced shooter will come to Nintendo Switch, PC, Mac, Linux, PS4, and Xbox One! With many different modes, missions and maps that span the globe, players are sure to enjoy Crazy Justice

Pre Orders Now Open

 

The campaign for Virgo vs The Zodiac has ended with 196% funding! Thanks to all who helped make this campaign a success! If you missed your chance to back this project during the campaign, Slacker Backer is now available, and you can even download the demo from itch.io for free. If you have any feedback or questions about the campaign or demo, feel free to post a message for the developer in the comments section of the campaign page.

 

 

September Wrap-up

Earlier this month, we attended PAX West in Seattle, where Swery hosted a panel to announce The Good Life campaign! If you weren’t able to see the panel in person, you can catch it on Twitch.

At the MIX indie game showcase during PAX we showed off Bounty Battle, Trackless, Flash Point: Fire Rescue, Kingdoms and Castles, and KnightOut. Lots of people came out to play these awesome games, and Trackless was chosen as Best of Show runner up! Congrats to the developer!

September was a productive month for our current campaigns as well as games in development. Here are the developer updates you may have missed:

Which game are you most excited for? Let us know in the comments below!

We’re Increasing the Minimum Dividend Rate for Fig Game Shares—PSY2 to 70%

Today, we’re announcing an increase in the minimum dividend rate of Fig Game Shares—PSY2 from 30% to 70%. The details are laid out in a supplement to our offering circular for Fig Game Shares—PSY2, filed earlier today with the Securities and Exchange Commission, which can be found here.

This may seem like a big change, but from our viewpoint, it’s actually not. And here’s why: since founding Fig, we have envisioned that equity crowdfunding should do two things — create a new way for independent developers to put their games into the hands of players, and give fans a way to financially participate in the success of the games they love. Fig exists primarily to facilitate these goals.

The way we’ve decided to apportion sales for Psychonauts 2 reflects this vision. The lion’s share of the game’s revenue will rightly go to the developer and investors, with Fig taking out our service fee and participating in a smaller way in revenue share.

The chart below, which is also included in the supplement, shows the potential dividends with the 70% dividend rate:

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The table above makes assumptions, and is presented for illustrative purposes only. Although we believe the assumptions represent fair estimates, there can be no assurance that any one or more of these assumptions will in fact apply. The supplement lays out in more detail the assumptions that we make.

So, how did we go from a 30% minimum investor dividend to a 70% minimum? The short answer is that now we can.

Here’s a slightly longer answer with a little more background, in case you’re curious. We’ve always regarded the 30% as the rock-bottom of the range for what we want to pay out to investors. The figure was meant to be a floor, so that no matter what unforeseen circumstances occurred with the business, investors could rely on it.

In our offering circular for Fig Game Shares—PSY2 , we deliberately left the door open for increasing the investor dividend by saying that we would pay more than the minimum if business conditions permit. Now that Fig Game Shares—PSY2 have been in the market for several weeks, we have sufficient market data to issue a supplement and declare an increase the minimum dividend rate to 70%. In short, the market saw the 30% as a cap, rather than a minimum. To clarify our intent, we are moving the floor up to remove any confusion about our ultimate goals.

Our philosophy has always been to reward investor fans with as much of the revenue share that our business permits. Today, that means ramping up our minimum investor revenue share for Fig Game Shares—PSY2  to 70% (again, the 70% is still not a cap — it’s a minimum). We can go even higher, and we expect to do so if and when business conditions allow us to. Our model seeks to reward investors, because that’s how we can get people to invest and help us build a thriving ecosystem for independent games.

Of course, there’s no guarantee — for Fig or its investors. As with all investments, there are still risks, and we encourage you to read the risk factors in our offering circular for Fig Game Shares—PSY2.

We want to thank our investors for sticking with us through this process as we travel through some uncharted terrain. It’s been a thrilling experience, and we are grateful you are here with us for the journey.

If you have any questions about our dividend policy, or investing in Fig Game Shares in general, feel free to shoot me a message at justin@fig.co.

Best,

Justin

IMPORTANT MESSAGE: An offering statement relating to Fig Publishing, Inc.’s Fig Game Shares—PSY2 has been filed with the U.S. Securities and Exchange Commission and has been qualified. Prior to any investment in Fig Game Shares—PSY2, you should review a copy of the offering circular included in such offering statement, and a copy of the new supplement to that offering circular, or by requesting copies by phone at 415-689-5605 or by writing to Fig at 599 Third St., Suite 211, San Francisco, CA 94107. No offer to sell any securities, and no solicitation of an offer to buy any securities, is being made in any jurisdiction in which such offer, sale or solicitation would not be permitted by applicable law.

We’re SEC Qualified: Let the Games Begin!

I am excited to share with you that Fig Publishing Inc. has just been qualified by the U.S. Securities and Exchange Commission (SEC) to sell Fig Game Shares—PSY2 for Psychonauts 2.  

What does being qualified mean? Two things. First, it means that nonaccredited fans who reserved equity shares related to Double Fine’s Psychonauts 2 will now be able to complete their purchase of Fig Game Shares—PSY2. (We’ll reach out to those of you who placed reservations next week with instructions.)

Second, it means that as of now, Fig is the only crowdfunding publishing platform where non-accredited investors can earn a return based on a game’s sales.

This is a first for our industry. But with Fig Game Shares being the only investment of its type to pass through the SEC process under Title IV of the JOBS Act, it also has the potential to evolve publishing for all of entertainment and fundamentally change the narrative of crowdfunding. Until now, equity crowdfunding for games in the U.S. had been publicly available only to wealthy, accredited investors. Additionally, investors could only purchase equity that offered a return based on the financial performance of a company—not based on  the financial performance of a single game. No longer.

This qualification opens the door for Fig Game Shares, a brand new type of security, one that lets everyone invest in Fig, support the development and publishing of games, and financially benefit from the sales of their favorite games. With Fig Game Shares—PSY2 as a blueprint, we plan to create and qualify with the SEC new series of Fig Game Shares that pay returns based on the sales of additional games..

This week’s SEC qualification is a long-awaited milestone—both for our company and for our industry. It has taken us several months to get here. Part of the reason it has taken us so long is due to the ambitious nature and far reaching implications of our approach. Because Fig Game Shares are innovative in tying returns to a single game’s sales, we needed to work closely with the SEC to answer their questions and to make sure we considered all the ramifications, both to protect investors and facilitate the free flow of capital. After all, it’s not every day that a new type of security is born!

What makes me most excited about this announcement is that we can now move full steam ahead with our initial goal when we launched Fig — to create a community of fans, investors and independent developers, with Fig as publisher, to work together to bring about new, innovative games. We’re especially grateful to our community and to the amazing fans who participated in our campaign for Psychonauts 2.
Now, let’s go make some great games!

IMPORTANT MESSAGE: An offering statement relating to Fig Publishing, Inc.’s Fig Game Shares – PSY2 has been filed with the U.S. Securities and Exchange Commission and has been qualified. Prior to any investment in Fig Game Shares – PSY2, you should review a copy of the offering circular included in such offering statement by clicking on the following link: https://www.sec.gov/Archives/edgar/data/1658966/000121390016017011/f1a1215a5_figpublishinng.htm, or by requesting a copy by phone at 415-689-5789 or by writing to Fig at 599 Third St., Suite 211, San Francisco, CA 94107. No offer to sell any securities, and no solicitation of an offer to buy any securities, is being made in any jurisdiction in which such offer, sale or solicitation would not be permitted by applicable law.