Cash, Investment

Another Yogscast-Backed Developer Struggles With Financing

September 26, 2014 - GamePolitics Staff

In the wake of the Yogscast-backed and Kickstarter-funded game Yogventures giving up the ghost and being canceled by developer Winterkewl Games, another Yogscast -backed developer was put forward to provide gamers who backed that other project some recompense. While the company still plans to do that, it looks like it is going through some short-term problems with funding that will in turn force it to lay off half of its staff.

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'Yogventures' Backers Get SOE's 'Landmark' for Free

September 8, 2014 - GamePolitics Staff

Backers of the failed Yogventures Kickstarter - a game strongly associated with the popular YouTube channel Yogscast - have received free copies of EverQuest Next Landmark. This is in addition to the free game codes backers already received for TUG, another Yogscast-backed game. Yogventures was canceled earlier this year when it ran out of money - even after its developers raised $567,665 from 13,647 backers via a highly successful Kickstarter campaign.

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BuzzFeed Spending Some of Its $50 Million Funding on Casual Games

September 1, 2014 - GamePolitics Staff

BuzzFeed will use some of the $50 million it secured last month to develop games. According to this TechCrunch report, BuzzFeed will use that investment to develop casual games - just one measure the company is working on to expand its audience.

BuzzFeed vice president of product Chris Johanesen tells TechCrunch that games are just one more part of an overall strategy to get visitors to do more than consume its content. In other words, it's a move towards more engagement.

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Nexon and Wargaming Back LVP Fund

July 15, 2014 - GamePolitics Staff

Nexon and Wargaming, two juggernauts in the MMO gaming space, and Zynga CEO Don Mattrick have teamed up with UK-based investment fund London Venture Partners to create an early-stage seed fund.

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Documents Reveal Who Bought 38 Studios Bonds in 2010

June 11, 2014 - GamePolitics Staff

Six or so of the missing 38 Studios investor letters have surfaced, according to the Providence Journal. The documents provide new information about all of the different companies and organizations that backed the bonds that funded the $75 million loan to 38 Studios.

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Omni VR Treadmill Makers Raise $3 Million in Seed Funding

April 24, 2014 - GamePolitics Staff

Virtuix has completed a $3 million round of seed investment that it says it will use to complete its Omni VR treadmill. You may remember the virtual reality treadmill from last year when its Kickstarter crowd funding campaign sought to raise $150,000 but ended up raising a whopping $1,109,351. The technology works with VR headsets to let players move around inside virtual environments. At present Virtuix has more than 3,000 preorders for the $500 Omni treadmills.

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The Final Hour of Unwinnable Weekly's Kickstarter Campaign

April 17, 2014 - GamePolitics Staff

As of this writing there are around 80 minutes left until the crowd-funding campaign for Unwinnable Weekly ends. The campaign to fund a digital weekly edition of Unwinnable hit its initial goal of $35,000 yesterday and hit another milestone of $38,545 in the last couple of hours.

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CasinoRPG Launches Today

April 16, 2014 - GamePolitics Staff

GoldFire Studios' successfully crowd-funded RPS-infused gambling game, CasinoRPG, has finally launched after a year of beta testing. The game was successfully funded on Feb 5, 2013, raising well over the $20,000 it was initially asking the community for. CasinoRPG is an open world that combines massively multiplayer role-playing games with tycoon and city-building elements, and casino games like poker, slots, blackjack and roulette. The game was built using HTML5 and has been in beta since last year.

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GaymerX2 Organizers: This Year's Event Likely The Last

April 14, 2014 - GamePolitics Staff

Organizers of GaymerX say that this year's event in San Francisco, GaymerX2 will very like be the last event they organize. Speaking to Polygon, GaymerConnect's Matt Conn told Polygon that the cost of securing the venue and other things related to the event were just too high and the successfully funded Kickstarter campaign did not generate enough money.

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Why Brush Those Teeth When You Can Grush Your Teeth?

April 3, 2014 - GamePolitics Staff

Most parents of young children will tell you that it is hard to get your children to brush their teeth regularly and properly without some prodding, nagging and constant reminders. Luckily, there's an app for that.

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Warner Bros. Invests in Machinima

March 11, 2014 - GamePolitics Staff

Hot on the heels of a new round of layoffs, YouTube entertainment channel Machinima has managed to secure new funding to the tune of $18 million in a funding round led by Warner Bros.

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Akaneiro: Demon Hunters Puts Spicy Horse in Serious Debt

January 30, 2014 - GamePolitics Staff

Developer Spicy Horse recently updated its Kickstarter page for the action/RPG Akaneiro: Demon Hunters explaining that updates will be coming to the game a lot slower because they have been forced to lay off all but two developers on the game's development team. Why would they do that, you ask? Apparently the game costs $2 million to make and only a tiny portion of it was funded by the community.

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Star Citizen Raises $35 Million in Crowd Funding

December 23, 2013 - GamePolitics Staff

Another day, another ridiculous amount of money raised for Star Citizen, the epic space-based game from Privateer and Wing Commander creator Chris Roberts and his team at Cloud Imperium Games. Over the weekend the game hit the $35 million crowd-funding mark - raised from a combination of crowd-funding from the company's official site and a very successful Kickstarter campaign earlier this year.

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Oculus VR Raises $75 Million in Funding

December 13, 2013 - GamePolitics Staff

Oculus VR has raised $75 million to help complete the consumer version of the Rift virtual reality gaming headset. Venture capitalist Andreessen Horowitz helped find most of the Series B funding money, which comes from Spark Capital, Matrix Partners and Formation|8. This injection of cash follows $16 million in Series A funding the company received in June of this year, $2.4 million in crowdfunding generated from its highly successful Kickstarter campaign in 2012, and direct sales of more than 30,000 development kits.

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Read Only Memories Within Striking Distance of Funding Goal

December 9, 2013 - GamePolitics Staff

With only three more days to go, MidBoss Games' Read Only Memories is $10,000 from reaching its funding goal. As of this writing, the cyberpunk-themed point-and-click adventure game has managed to raise $52,074 of its $62,064 goal from 1,139 backers with just three more days to go before its funding goal deadline on Kickstarter comes to a close.

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Deathfire: Ruins of Nethermore Kickstarter Launches Nov. 6

October 30, 2013 - GamePolitics Staff

G3 Studios wants to get out in front of an upcoming crowd-funding campaign to bankroll its upcoming PC role-playing game, Deathfire: Ruins of Nethermore. Deathfire: Ruins of Nethermore is described as a first-person, party-based role-playing game with a heavy emphasis on story and character development. A prototype of the game is already in development by G3 Studios (using the Unity engine), and veteran role-playing game designer/producer Guido Henkel is leading the project.

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UK Government Fast Tracks Green Man Gaming, Mindy Candy for IPO

October 17, 2013 - GamePolitics Staff

UK-based video games retailer Green Man Gaming and Moshi Monsters development studio Mind Candy could be fast-tracked to the London Stock Exchange under a new government scheme called The Future Fifty.

First unveiled by UK chancellor George Osborne in April, the program connects "high-growth tech companies" with specialized support to lay the foundations of an initial public offering or sale. Two UK video games companies were chosen from an initial list of 25 businesses in the technology, digital, consumer goods and financial services markets.

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The Ballad of Reemus 2 Hits Funding Goal

October 17, 2013 - GamePolitics Staff

2D point-and-click adventure game sequel The Ballads of Reemus 2 managed to raise $15,170 CAD via its Kickstarter crowd-funding campaign, putting the project $170 CAD above its funding goal of $15,000 CAD. As of this writing, the crowd-funding campaign has just over two days to go before its Kickstarter campaign comes to a close.

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SoftBank, GungHo Take Controlling Interest in Supercell

October 15, 2013 - GamePolitics Staff

Softbank and GungHo Online are making a substantial investment in Finnish free-to-play and mobile gaming juggernaut Supercell. The company is selling a 51 percent stake for $1.53 billion to Japan’s SoftBank and game developer GungHo Online Entertainment. The strategic investment will make Supercell a subsidiary of Softbank, with the funds being used to fuel Supercell’s global expansion.

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Star Citizen Raises $20 Million from Crowd Funding

September 26, 2013 - GamePolitics Staff

Chris Robert's PC-based space simulation game Star Citizen has surpassed the $20 million crowd-funding mark, with more than 260,000 supporters backing the game being developed by the Wing Commander and Privateer developer and his team at Cloud Imperium Games. Roberts and company managed to raise the funds in less than a year through crowd-funding efforts on Kickstarter and on the game's web site. Around $10 million of that figure was raised in the last four and a half months, according to the game's developers.

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Kickstarter-Funded Sword Fighting Game 'Clang' Runs out of Cash

September 20, 2013 - GamePolitics Staff

Kickstarter-funded sword fighting game Clang has run out of cash and is looking - with little success - for additional funding. In an update to the Kickstarter page for the game, Neal Stephenson from Subutai Studio told backers that the $526,000 pledged by Kickstarter donors in July 2012 is all gone and raising funding from other sources has proven difficult because publishers and investors interested in the sector are "risk-averse."

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Ouya Changes Free the Games Fund Guidelines

September 19, 2013 - GamePolitics Staff

Android-based home console maker Ouya announced this week that it is making important changes to the way its Free the Games Fund works after it acknowledged that the program contained "too many loopholes" that could be manipulated by those who want to take advantage of the matching funds program. The $1 million promotion had offered to match the donations made to Kickstarter games that raised at least $50,000 in exchange for six month exclusivity to the system.

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Becker College Gets $1.4 Million EDA Grant for MassDiGI New Ventures Center

September 13, 2013 - James Fudge

Worcester, Massachusetts-based Becker College and the Massachusetts Digital Games Institute (MassDiGI) have been awarded a $1.4 million grant from the U.S. Department of Commerce’s Economic Development Administration (EDA) to help build the MassDiGI New Ventures Center (NVC). Becker College also announced that it will match the EDA grant, making a total of $2.8 million available to build the state-of-the-art facility.

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ESA Praises Texas Film Commission's Expansion of Tax Incentives

September 11, 2013 - GamePolitics Staff

The Entertaintment Software Association (ESA) issued a press release this week praising the Texas Film Commission for expanding its economic incentives to include "digital interactive media productions."

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Rose and Time Developer Pulls Game From Ouya Over Free the Games Fund Controversy

September 11, 2013 - GamePolitics Staff

Ouya founder and CEO Julie Uhrman attempted to address the controversy surrounding its 'Free The Games' funding program in a blog post last night, but her statement has further exacerbated the situation and caused at least one developer to pull her game from the platform. Developers have criticized that platform holder for failing to address concerns related to its funding program. Uhrman's statement did little to quell that criticism, as developers took to the blog post to loudly complain about the tin-eared response.

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PayPal Strikes Again: Freezes Funds of Yatagarasu Attack on Cataclysm Developers

September 10, 2013 - GamePolitics Staff

Update: A spokesperson for PayPal has informed us that the situation has been resolved. The company's statement can be found below:

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Professional StarCraft Player Joins Artillery

September 6, 2013 - GamePolitics Staff

StarCraft professional player Sean "Day9" Plott has joined a video game development studio. He has joined Artillery as its new "Head of Games," along with  co-founder Eric Burkhart who will serve as "Head of Growth." Plott and Burkhart join Artillery’s lineup of  developers who previously worked at such companies as Google and Facebook. The goal of the studio is to "transform the browser into a gaming console" using HTML5.

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More Legal Trouble Could Be On the Way For 38 Studios

September 3, 2013 - GamePolitics Staff

It looks like former Red Sox pitcher and 38 Studios founder Curt Schilling - along with associates of the company - could face legal problems on another front. Last week the Rhode Island Economic Development Corp. approved a request by the federal bankruptcy court trustee to use up to $150,000 in assets recovered from the company to further investigate its former officers, directors, and other parties. If this investigation turns up any further information, it could lead to additional legal actions against 38 Studios.

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2K Games Marketing Vet Joins Tilting Point

August 30, 2013 - GamePolitics Staff

Tilting Point has hired Tom Bass as its new Vice President of Marketing. Prior to joining the company Bass worked for video game publisher 2K Games, where he held the positions of Director of Marketing and Senior Director of Social Media and Consumer Relations. He worked there for the last eight years. According to Tilting Point, Bass will lead a team focused on mobile game marketing for the company’s portfolio of games.

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First Two Games Funded Through Ouya's Free the Games Program

August 27, 2013 - GamePolitics Staff

The first two games to be funded by Ouya's "Free the Games" program are an officially licensed NFL title and the adventure game Elementary, My Dear Holmes. Both reached their funding goals via Kickstarter campaigns and Ouya took notice.

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prh99The unflattering characterization "They don’t know how to dress or behave." & "‘Games culture’ is a petri dish of people who know so little about how human social interaction..." probably didn't help.10/02/2014 - 1:52am
prh99Probably not many as it was purely a vindictive move. The headline alone was plenty of ammo, but for those that did read and complain..10/02/2014 - 1:42am
Andrew EisenI wonder how many of those who complain about that article actually read past the headline.10/02/2014 - 1:37am
prh99http://intel.ly/1tjh1AH http://bit.ly/1rGPHOY http://intel.ly/Zu6go9 it isn't surprising "Gamers are over" didn't go over very well.10/02/2014 - 1:34am
Papa MidnightCan you parlay that to #WriteAGawkerArticle? The cesspool of horrid crap over there extends far beyond Kotaku.10/02/2014 - 12:34am
Andrew EisenWow! Intel dropped Gamasutra due to GameJournoPros? Over Matt Matthews? The only Gamasutra guy in the group? Who hasn't written a single thing about #GamerGate at the site? Where did you read that?10/02/2014 - 12:32am
Neo_DrKefka#WriteAKotakuArticle "#GamerGate is responsible for breaking millions of Intel powered macbooks after angry SWJ hipsters slam them shut" or "How Toxic Processors from Intel causes sexism. "10/02/2014 - 12:15am
Neo_DrKefkaSo Intel has dropped Gamesutra due to there support of your Gaming News Cabal Fudge. Anti GamerGate article soon? Or like your e-mails are you hoping this narrative dies down soon?10/02/2014 - 12:14am
Andrew EisenWell, time to eat some dinner and work on the Hyrule Warriors guide until bedtime!10/02/2014 - 12:11am
Andrew EisenJust finished my stream. That... could have gone better. Technical issues prevented me from playing a console game so I instead played and bitched about The Walking Dead for two hours. Oh well, the folks watching still seemed to enjoy it.10/02/2014 - 12:09am
Matthew Wilsonwe all know valve can not cout to 3.10/02/2014 - 12:08am
MechaTama31Who cares? Gimme Portal 3!10/01/2014 - 9:38pm
quiknkoldAndrew : Mostly I decided there were better people who could explain what was going on, or fight any battles that may come up. so I decided not to talk about it anymore.10/01/2014 - 8:49pm
Andrew EisenI don't recall you promising that. GamerGate is not a taboo discussion here. Anyway, thanks for the link. Very interesting.10/01/2014 - 8:47pm
quiknkoldI know I promised to not talk about Gamergate again, but Intel just pulled sponsership from Gamasutra over it http://techraptor.net/2014/10/01/gamasutra-intel/10/01/2014 - 8:40pm
quiknkoldP.T. is a game I just cannot play alone. I puss out hard on it. need somebody with me when I play that. Kojima was right. it is Pants Shittingly Scary10/01/2014 - 6:17pm
quiknkold@james_fudge not playin all the way through. P.T, Silent Hill(Not sure which), Resident Evil Gamecube Remake, Alien Isolation, Ghostbusters, Outlast, Super Castlevania 410/01/2014 - 6:04pm
james_fudgeI wish I could like that last shout.10/01/2014 - 5:48pm
MechaTama31Tried out Sims 4 on my brother in law's pc. Promptly got my sim exhausted, to soil himself, then sent him without cleaning up to mock people at the museum. Good times...10/01/2014 - 5:33pm
E. Zachary KnightSo they figured out how to share CPU cycles between pools and their advanced emotions engine? Sweet.10/01/2014 - 2:53pm
 

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