Republic obtains Fig, adding games to its startup crowdfunding program
Crowdfunding program for startups Republic has obtained crowdfunding program for games Fig, combining forces to support creators get their concepts off the ground.
Users of every service will be glad to know they’ll remain as-is for the foreseeable future.
The model of openly accessible micro-equity has shown an effective one, and both programs have current successes below their belts.
The Terms of the Takeover
Startups of a wide variety have put hundreds of thousands on Republic, while Fig has had a fabulous year with games like the critically lauded (and successful) Outer Wilds and What the Golf.
The terms of the takeover were not revealed, but the overall idea is to join the two sites without jeopardising either.
Ideally, both will notice an extended audience, and users will view an enhanced variety of plans to potentially back.
Gaming is a developing area of finance, particularly niche indie games that may be the next big surprise hit, so Republic observed Fig as a natural expansion of its current platform.
Fig’s CEO, Justin Bailey, will continue as a board member at Republic and further guide the thoughtful combination of the two sites.
“Fig will proceed on and over time will gradually become a part of Republic,” he said. “Republic will have the core parts of Fig’s community publishing program and then combine in its ingredients such as its dedication to variety which will produce an even greater platform for indie game developers.
In the end, Fig’s purpose is to help promote autonomous developers and creating games likely that wouldn’t be.”
Both CEOs moved out of their way to suggest that the sites primarily consider underserved and underrepresented organisations, which may find crowdfunding the only way to accumulate enough capital to attempt an idea.
Bailey saw that the pandemic has reached to a significant disruption of conventional investment methods.
Crowdfunding is already flourishing, but in the limited post-coronavirus world it might be still more valid.
“Developers should constantly be rethinking how to allocate funding,” he said. “Innovation and imaginative thinking lead to the greatest campaigns, and we will be there to support them.”
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