Crowdfunding is a way for game developers to raise money for their projects by soliciting small contributions from a large number of people. These contributions can come from anyone and can range from a few dollars to thousands of dollars. Those people are called ‘backers’. In exchange for their contributions, backers are typically offered rewards, such as early access to the game or exclusive in-game items.
The most popular platforms for crowdfunding are Kickstarter (over $7bn raised in January 2023) and Indiegogo, but there are also many other platforms that developers can use, such as GoFundMe, Patreon, and Fig. Each platform has its own set of rules and fees, so it’s important for developers to do their research and choose the platform that best suits their needs.
✅ One of the biggest advantages of crowdfunding is that it allows game-developers to bypass traditional publishing models and instead rely on the support of the gaming community to fund their projects. This can be especially beneficial for indie developers and smaller studios, who may not have the same resources or connections as larger companies. Crowdfunding also allows developers to test the waters and gauge interest in their project before committing to full development.
❌ However, it’s important to note that crowdfunding is not a guaranteed way to secure funding, and there’s always a risk that a project may not reach its funding goal. Developers need to be prepared to put in a lot of work to promote their projects and build a community of supporters. This can involve creating a compelling campaign video, providing regular updates on the project’s progress, and engaging with backers on social media.
Another important consideration for developers is that many crowdfunding platforms are all-or-nothing, meaning that if a project doesn’t reach its funding goal, no money is collected from backers. This can be a high-stakes gamble for developers, as they may have already invested a significant amount of time and money into the project.
In recent years, crowdfunding has become increasingly popular in the gaming industry, with many developers turning to platforms like Kickstarter and Indiegogo to secure funding for their projects. In 2023, we can expect to see even more developers turning to crowdfunding as a way to secure funding for their projects. With the right campaign and a dedicated community of supporters, crowdfunding can be a powerful tool for game developers to bring their projects to life.