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[IMPORTANT] Potential funding solutions
07-02-2011, 10:57 PM (This post was last modified: 20-02-2011 03:58 PM by Thomas.)
Post: #1
[IMPORTANT] Potential funding solutions
http://www.8bitfunding.com/index.php

Learn More:
http://www.8bitfunding.com/static.php?static_id=2

Welcome to 8-Bit Funding


Welcome to the indie gaming industry's newest and best home for crowdfunding. What is crowdfunding, you ask? Simple: it's the act of promoting and relying on a community or "crowd" of funders to micro fund your project.


8-Bit Funding has a single goal, to help anybody who has anything to do with the gaming industry fund their projects through completion. Whether it's a video game, board game, card game, or even gaming inspired projects like a gaming focused bar or cafe.


Here's How It Works


As a developer/creator of a project you can create a project here at 8-Bit Funding. Doing so will allow our users to fund your project in return for perks that you assign. These perks can range from a special thank you in the credits of a video game, to a pre-order, to a lifelong pass at "PWN Cafe" should that be the name of your cafe.


As a funder of a project you can comb through our various gaming related projects, find which ones interest you and then fund the necessary amount in order to acquire a perk. Perks are various rewards set by the project starter to reward you for helping complete their project.


Each project is funded via PayPal making this transaction easy and simple to use for almost anybody in the world, no matter if you're a funder or a project starter.


Why Should I Create a Project?


As a developer/project starter getting capital to create a game or launch a new venture can be very tough, particularly if you're trying to go after bank nonsense or other venture capitalist money. With 8-Bit Funding you don't have to jump through legal hoops, or try and convince a group of stuffy old suits that your project will earn them back their money. 8-Bit Funding is purely about one enthusiast helping to fund another enthusiast's project.


The best part about this is that you don't have to worry about paying anything back or returning any sort of capital investment. So long as your project is released and you fulfill your obligated perks you owe nothing.


Fees and Payments


As with other sites similar to ours, 8-Bit Funding will have a base line fee for its services. In addition to our own fees, PayPal (and any service we may use in the future) will also have its own fees. Here's the breakdown:


PayPal charges 2.9% + $0.30 per transaction. So, for example, a $20 funding will come out to $19.12.
Our own charge is 5% which we take AFTER PayPal takes their charge (you get more this way).
So, after both PayPal's and our fee on a $20 funding contribution you'll receive $18.16 of that.
It's a little complicated, but it's the best system available so that everybody gets paid.
Upon completion of your project, we will release funds (minus fees) to your PayPal account or via check (United States only) should you request it

PayPal charges 2.9% + $0.30 per transaction. So, for example, a $20 funding will come out to $19.12.


Our own charge is 5% which we take AFTER PayPal takes their charge (you get more this way).


So, after both PayPal's and our fee on a $20 funding contribution you'll receive $18.16 of that.


It's a little complicated, but it's the best system available so that everybody gets paid.


Upon completion of your project, we will release funds (minus fees) to your PayPal account or via check (United States only) should you request it.


Refunds and the "Grace Period"


Refunds are not permitted. If you make a contribution to a project that money is being paid into the account immediately. No refund requests will be granted. There is but a single exception to this rule: not reaching the "Grace Period."


The Grace Period of a project is anywhere from the halfway-funding mark to the funding goal. So, for example, on a $1000 project the Grace Period begins at $500 and continues up until that project hits $1000.


Should a project not reach the Grace Period, all funding contributions shall be refunded, no exceptions.


Should a project conclude in the Grace Period, the project starter shall decide if all accumulated money is enough to finish the project and pay for the perks or not. If the project starter decides it is not enough money all contributions shall be refunded. If the project starter decides it IS enough money the money will be released to their accounts minus a slightly higher 10% fee, as opposed to 5%.


This slightly higher fee is used to keep creators realistic about their funding ambitions.


Should you have any specific questions please check out our detailed F.A.Q.

Thomas Gray - Chairman and Lead Designer Causeway Games
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08-02-2011, 07:42 PM
Post: #2
RE: 8-bit funding - possible funding solution?
i like this, what do you recon?
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08-02-2011, 10:28 PM
Post: #3
RE: 8-bit funding - possible funding solution?
(08-02-2011 07:42 PM)Ryan Brown Wrote:  i like this, what do you recon?

I reckon we need to calculate a production budget.

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09-02-2011, 11:21 AM
Post: #4
RE: 8-bit funding - possible funding solution?
(08-02-2011 10:28 PM)Thomas Wrote:  
(08-02-2011 07:42 PM)Ryan Brown Wrote:  i like this, what do you recon?

I reckon we need to calculate a production budget.

I reckon you might just be on to something with this...Sounds promising!
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09-02-2011, 02:23 PM
Post: #5
RE: 8-bit funding - possible funding solution?
Only thing that worries me about it is that its usa law, guess we will just have to read the terms and conditions and proceed with caution with this one
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11-02-2011, 07:45 PM
Post: #6
RE: 8-bit funding - possible funding solution?
thomas m8,

Ive been thinking man and sorta looking at the site. Apparently there is no limit to the amount of game ideas that you can post to the website. based on that m8 you could do it so that we put forward about 5 or 6 ideas each at $8k - $10k. See my thinking behind this is that everyone could be helping development of each game simultaneously and the payout for each person would be $5k for a years work...

Biggest bother here is that we would be making 6 games in the space of a year, which would require a great deal of organisation. Thing is tho, if I was (and im sure if every1 else was) getting paid, it would mean that I could put all my efforts into making the games and therefore put in 40 hours a week (or more if necessary). We would also need to budget time for "the perks" that would need to be created.
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20-02-2011, 12:42 PM (This post was last modified: 20-02-2011 04:19 PM by Thomas.)
Post: #7
Indie fund
, Ryan thanks for your thoughts. I seriously doubt though that most of us would survive on 5000 dollars a year... taking into consideration the conversion rate its actually closer to £3000. I am earning roughly £9500 a year after tax on my current 9-5 and im just about making ends meet.

Another potential funding source.

http://indie-fund.com/

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20-02-2011, 12:42 PM (This post was last modified: 20-02-2011 03:57 PM by Thomas.)
Post: #8
RE: 8-bit funding - possible funding solution?
Moved to business forum.

Threads merged and stickied.

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20-02-2011, 04:00 PM (This post was last modified: 20-02-2011 04:07 PM by Thomas.)
Post: #9
RE: [IMPORTANT] Potential funding solutions
Fund4games.com
http://fund4games.com/

Apparently this one is UK based.

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20-02-2011, 04:07 PM (This post was last modified: 20-02-2011 04:12 PM by Thomas.)
Post: #10
RE: [IMPORTANT] Potential funding solutions
Mochi media

This one is american but they are willing to fund offshore projects.

http://www.mochimedia.com/developers/fund.html

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