CROWDFUNDING AND VIDEOGAMES
As this point in modern days, we would say there is no doubt that crowdfunding has become into one of the most popular activities to raise some businesses and projects, and of course, videogames are in fact one of those industries which has been completely obtaining some cool benefits from it. For example, video game startups increase awareness and connect with potential game-testers as well as non-equity investors on Crowdholding.
Read also: The Relationship between IT & The Crowd
Crowdfunding and videogames, the best allies
On a time where videogame industry seems to be a little hard to be sponsored by any company, crowdfunding has become one of the best alternatives for those game developers which are looking to have a project from a paper into their own hands. And we cannot deny it. There is no secret that overall, many crowd-funding pitches from all around the world will fail. Yet there’s something about the crowd-funded scene that draws indie game developers and enthusiastic gamers back time after time. And that is because in the gaming world, there is that feel of “we all are brothers and we will help each other to reach a goal”.
And how can you explain that?
We all know that usually, games were mostly funded and even developed in a different way to which they are today, there is no doubt about it. In fact, way back when to get a video game out to the waiting gamer’s chances are you’d need a publisher. Which nowadays could be very tricky. Luckily for our indie developers, time have changed a lot.
With crowdfunding came a whole new alternative finance creative freedom, believe it or not, to really get to know your target audience and even involve them in the development process, which is always a refreshing feel. Not only have websites like Crowdholding changed the way that studios fund their games and some other activities, they have aided in the evolution of game development so naturally and quickly that it’s understandable if you missed any of these. Here we’ll take a look at crowd-funding and how it’s altered the process of game development and design for the better in every platform in the whole world. Even though crowd-funding has a very long history (before the online crowd funding we know today, for toys, books, films and even military conflicts were funded via methods such as subscriptions and war bonds, as crazy as it sounds.) it’s only been in the last few years that it’s become such a very popular activity, an accepted and successful way to fund any kind of projects.
Game developers celebrate crowdfunding
With Kickstarter claiming only around 9% of projects fail in all the United States, it’s not surprising that more and more people are turning to this practice every day. Just in case you’re not familiar with crowd-funding and its meaning, its whole process, it’s not entirely dissimilar to pitching a project in the traditional sense in any way. You create your own pitch and post it on one of the many crowd funding sites, and that is all. Those who are interested can back your project by donating some amount of money – more often than not backers will receive any kind of rewards in return depending on how much they choose to give or pay. Rewards often include the finished product, artwork, public thank you’s or being credited for backing any product from a business. The pitch stays online for the duration of the crowd-funding and, if successfully funded the money raised goes to creating the project. It’s a simple process which allows more enthusiastic entrepreneurs and creatives to have the chance to create a product and start their business, and it allows consumers to back items, products and projects they’re interested in.
Why Crowdfunding is good for videogames funding?
We are sure you know that Crowd-funding is a way that developers can retain creative freedom over their content, or that is the theory. We’ve heard the stories about people in every creative industry who finds a publisher and suddenly their project is all but taken away from them, which is in fact one of the worst thing that could happen.. It happens with books, in the movie and music industries and even in games.
That’s not to say publishing via traditional methods is a bad thing, but many people not only struggle to find a publisher willing to put forward the big bucks, but they are wary of potentially losing full control over their video game. In a world where the internet has made is easier for us to say what we really want to, more people are determined to create and share things that they really want to. Crowd funding is a great way to do that, although there are obvious rules and regulations that people have to take into consideration when making any kind of entertainment, generally the rules are a whole lot more lax when you’re essentially able to fund yourself.
It’s not just a plus for developers, though – it gives gamers the chance to see the games they want to play and help make it a reality. It’s even changing the dev/gamer relationship for the better. Game Developers need to draw attention to their project and keep backers interested. Therefore they take to the social media sites to keep consumers involved. It’s opened up a channel of communication – if a studio in the midst of a kick starter stays tight lipped and seems disinterested, there’s less of a chance their video games will get successfully funded, so they inject themselves into the gaming community in every way possible- now it isn’t unusual to see indie studios asking for the opinions and advice of gamers and hopeful devs online. It’s given people a chance to be more involved in the whole process, and given it a personal touch for those who have handed their money over in the hopes of seeing a finished game.
Yooka-Laylee with little help From Crowd
Yooka-Laylee has been dubbed the ‘spiritual successor’ to the still popular Banjo-Kazooie. The 90’s platformer saw kids spending countless hours staying up too late and pulling sickies. There was something overwhelmingly charming about a bear and the bird running around bright colored worlds collecting musical notes. Fast forward seventeen years – the kids are adults and are craving our childhood games again. We’ve had similar games come our way but few lacked that magic that came along with Banjo-Kazooie.
Luckily for us, some of the core team behind Banjo-Kazooie began a Kickstarter in June 2015, and raised over 2.1 Million from over 80,000 backers. Fast forwards again to EGX 2016 and we got our first look at a demo. I was lucky enough to be there and managed to get my hands on a controller. Yooka-Laylee was everything we were promised- a 90’s platformer updated for modern gamers. Different yet familiar.
Please do not hesitate in contacting us if you have any questions or concern regarding this topic. At Crowdholding we will be very pleased to bring you any helpful additional information on this matter.
You may also be interested in:
CrowdholdingCrowdholding connects the crowd with entrepreneurs, allowing you to give feedback and ideas for a future share.
First æternity Aepp Joins Crowdholding: Welcoming CryptoTask
Crowdholding Partner’s with Aeternity Ventures to support Starfleet Acceleration Program
Crowdholding May Update
Top 5 reasons to get YUPs! (Get dividends for holding YUPs)
Crowdholding April Update
Implementing Crowdholding widget to your website
ITF excelled with Crowd Wisdom
TailoredInk ICO Community Management
IronX ICO Social Media Marketing
Aerum ICO Influencer Marketing
Jarvis built with the crowd
ySign engaged the blockchain crowd
6 Ways to Earn Crypto For Free
Common Mistakes When Investing in ICOs
Connectjob joins Crowdholding
Week in a Nutshell & Smart Contract
Opporty joins Crowdholding
Getting to Know our Users
SmartCash joins Crowdholding
Bitcoen.io joins Crowdholding
What is a Smart Contract?
How to Create an ICO - Part 3 - Marketing
How to Create an ICO - Part 2 - The Two "W's"
How to create an ICO - Part 1 - The building blocks
Invest Time, Not Money
What alternatives are there to financing your business?
What is an ICO? And should you invest?
Blockchain technology : changing the world of business silently
Crowdholding’s Pre-Sale — A Case Study
How to become a Crowdholding supporter: Part 3 exchanging ETH for YUPIES
China ban on ICO’s : Not all Doom and Gloom?
How to become a Crowdholding supporter: Part 2 Buy some Ether (ETH) on Coinbase
How to create a task on Crowdholding
How to become a Crowdholding supporter: Part 1 creating a Ethereum wallet on MyEtherWallet.com
How to create a project on Crowdholding
Cryptocurrencies and their value
What is Crowdholding?
What is a White Paper? And do you need one?
What can CEO’s / Entrepreneurs learn from athletes?
How to start my own business? Part 3. Validating Your Business Idea
Top 10 career mistakes to avoid
6 Benefits of a Sharing Economy
How to start my own business? Part 2. Factory for ideas
Startup Promotion and Content Marketing Strategy
How to start my own business? Part 1. Five simple rules
The Year Capitalism could have Changed
Robots & Work: Jack Ma Predicted The Emergence of Robot-CEO
Startup Psychology: Why Entrepreneurs will save the planet?
Billionaire's School: it's hard to be the first
10 interesting sport startups that will rule 2017
30 reasons to be an online entrepreneur
How to chose a dating site?
You should know this striking marketing trend
10 reasons to join Crowdholding if you are a student
How did 67,000 people create the first crowdsourced melody?
Launch a startup with a partner, never alone.
Collaboration solves education problems with flying colors!
Hollywood movie from your smartphone?
Design your room the way you want it!
Hi, Your business is now a unicorn!
Hi, You're Hired!
Don't want to change the world for the better? You can stop reading now.
Sharing Economy is not a niche, it's the future
📊 What if karma was 🆚 worth something? 🤜🤛
Raise capital, preserve equity
5 marketing strategies for successful contact with Millennials
Why 75% of new products are doomed to fail?
Small Business Staffing Opportunities
What are Crowd Currencies?
Mass Collaboration leads to unprecedented innovation
Alternative Finance: Equity vs Crowdshare Crowdfunding
Co-creation between the crowd and small businesses
THE RELATIONSHIP BETWEEN IT AND CO CREATION
Corruption on Wall Street: The Stolen American Dream
To own or to rent, trends in sharing economics
CROWDSOURCING IN FASHION
Crowdsourcing a girlfriend
CrowdSourcing Trends 2020
Peer-to-peer journalism: What and how?
The Peer-To-Peer Marketplace Revolution
Peer-to-peer in the fashion industry
The relationship between Co-creation and Innovation
CROWDFUNDING AND VIDEOGAMES
Revenue-sharing vs Reward-based crowdfunding
NON-EQUITY CROWDFUNDING CHANGING FASHION BUSINESS
Blockchain application in Media industry
Blockchain Technology & Crowdfunding
Creative marketing through Crowdsourced Content
JOBS OF THE FUTURE
Alternative finance for small businesses
WHY CO-CREATE? – A message to the Crowd
Think Tanks and Benefits
Empowering Global Citizens to Improve Education
THE EVIL WALL STREET
Co-creation in Tech
Co-creation and Innovation
WHY CO-CREATE? - Benefits for Small Businesses
Co-creation in the Fashion Industry
Crowdholding vs Wallstreet
Make a brand your brand
Reward Distribution Rules.
Please read below how the rewarding structure works.
Voters get 35% of the reward
Commenters still receive the majority of 65% of the reward weight, while voters 35%.
You receive only 7 upvotes and must vote what you think are the best answers
You now have a limited amount of upvotes. You won’t see the other user votes until the task expires. If you vote the top half comments you will receive a portion of the 35%.
Top 50% upvoted comments get bigger share
Our algorithm gives top 50% upvoted comments more rewards than the bottom 50% comments.
Give me an example with numbers
Upvoters get 35 % of the reward.
65 % goes to the commentors.
Half of the reward is gained from bottom 1/2.
Upvoters get nothing
1/2 of the reward pool for this segmentis distributed among top 1/2
There is a task with 1000 Reward.
Let’s assume Top 1/2 recevies 70% of all upvotes.
Bottom gets 30 %. But because half of the reward goes to Top 1/2 that makes the final numbers more like Top 1/2 gets 85% (55.25% for commentors, 29,75% for upvoters) and bottom gets 15 % of the final reward.
If there’s 100 upvotes:
1 upvote that upvotes a comment in Top is worth around 12 Yups (circa 8 goes to commentor, 4 goes to upvoter)
1 upvote that upvotes a comment in Bottom is worth 5 (All goes to commentor).
Reminder about our Moderation
If you upvote a comment that’s reported as Spam or comment that should not be rewarded (eg. “Good job” comments) you will lose your right to be rewarded for this task.
We hope you like this new system and it brings you lots of fruitful discussions and reward you fairly.
Do you still have questions? Read more detailed explanation at our helpdesk
All the best,
Your Crowdholding Team