Crowdfunding Platform Fig Now Allowed by US Government to Sell Shares to Future Campaigns
A few days ago, the Securities and Exchange Commission (SEC) branch of the US government granted Fig the ability to sell shares to its games to non-accredited investors. The crowdfunding platformer ‘created by gamers for gamers that offers rewards and investment based funding’ has only been around since mid 2015 but has had success with their bigger campaigns such as Jay and Silent Bob: Chronic Blunt Punch and Psychonauts 2.
The SEC’s decision will allow Fig to offer even more funding options and move farther away from their reward only structure of their competitors. To quote their press release:
With this qualification, Fig will be the first and only company to allow all fans the opportunity to support and earn a return based on a single game’s sales through Fig Game Shares. This qualification paves the way for Fig to create and register new Fig Game Shares for its other games.
To put into layman’s terms, if you were a hypothetical backer of Psychonauts 2, you could buy Fig game shares (market abbreviation PSY2) and in turn own a part of the title. And if it does well on the market, you make money.
Even though this marks a turning point for the crowdfunding industry, it’s hard to tell how much this will effect most backers who aren’t familiar with the complexities of investments and owning shares. Either way, Fig continues to push forward to be a unique platform that supports independent developers while also announcing larger projects such as Wasteland 3.