New age game developers try to allow gamers to have the best of both imaginary as well as the realist world. They deliver games with an unbeatable degree of innovation from time to time. Gameaholics look up to such developers for integrated gaming experiences, and thus creating a massive demand for such joystick innovations in the gaming industry. How do these developers create the “buzz”? Or, how do they get funded at an early stage? These are some questions that are often asked.
How do they evolve?
Startup fundraising via Crowdfunding is not an easy task. It takes a whole lot of effort. The amount of money raised by crowdfunding platforms during 2012 reached $2.8 billion, up 91% compared to 2011. Businesses need financing when cash outflows outpace cash inflows. To overcome this mismatch of funds, gaming businesses widely prefer Crowdfunding.
Crowdfunding offers an edge to the gaming business in several ways:
1. A source of capital at an early stage
“Revenue is vanity, profit is sanity, but cash is king.”
Crowdfunding is a great way to fund ventures, extends an arm to the reward-based crowdfunding platforms that help the game developers to attract gameaholics and raise funds by simply offering them tangible products or relative gifts to test and review at an early stage.
2. Risk hedger
“Don’t discount your options.”
A potential crowdfunding campaign hedges the risk of unpredictable expenses and the challenges in market validation, serving as a valuable learning experience. This financing method would allow a gaming blueprint to gain market validation and avoid giving up equity before going up front and taking a product concept to market.
3. An active marketing tool
“The only voice that is heard in social media is an authentic one.”
A pumped crowdfunding campaign is a productive way to introduce an innovative gaming experience and vision to the market with an easy and free way to reach out to numerous channels. Most of the crowdfunding platforms internalize social media mechanisms, making it a painless job to get referral traffic to your website and social media pages.
4. Free PR!
“People do not buy goods and services. They buy relations, stories, and magic.”
A way to get through potential investments from traditional channels and required attention from media outlets, Crowdfunding helps the gaming sphere by framing exciting stories that are craved by reporters. This method has been helping countless entrepreneurs who have seen more massive success and exposure as a result.
5. Opportunity to pre-sell
“Not groundbreaking yet, not yet constructed, but still a smart investment to make.”
Launching a crowdfunding campaign offers the game developers, an opportunity to pre-sell their product or concept that they haven’t yet taken to market. It is another way to gauge user reactions and analyze the market, with the idea to decide whether or not to pursue a given concept.
Get started with a kick!
Many such crowdfunding platforms work for the same cause to make your crowdfunding business seamless. One such undeniably keen market runner is ‘Kickstarter,’ a funding platform for creative projects. Funding on Kickstarter is all-or-nothing. The organization is unique with its agenda where no one/project will be charged unless it reaches its funding goal. These Kickstarter campaigns could quickly help you to master a market worth billions of dollars.
An early-stage ‘Kickstarter campaign’ that might stun you!
Having passed with flying colors in its initial stages, BCON Gaming Wearable has successfully raised initial capital worth 51,777 Euros pledged by 321 backers through crowdfunding. All of this is a bright outcome to a Kickstarter campaign that has been run by Daniel Fankhauser, a social media marketing and advertising specialist for Bcon, the world’s most competitive gaming wearable which is fast, precise, steady with increased performance in all games for all gamers. With Bcon, the gameaholic can play through a chip like wearable, to give you real-time gaming experience. This innovative gaming tool offered an edge to the Kickstarter campaign. Bcon has done well. It met its customers’ needs and has precisely come up with what users missed out in their overall traditional gaming experience.