Crowdfunding

Projected Development Cost – will not exceed $50 000 (we’re a University-based development with limited resources).

Timeline – 6 -9 months

Rainbow Death Studios will also be putting forward a Kickstarter campaign to help get financial backing to fund this smartphone app (Project Untitled) as well as pursuing funding from the Australian Government. Kickstarter is a website used to for ‘crowd-funding’ where applicants put forward a project and visitors on the website can choose to provide funding and ‘back’ a certain project.

In recent years, crowdfunding has become a significant source of revenue for a variety of projects. These include funding films, documentaries, music albums and video games. Many projects funded through the crowdfunding method have become successful. The most popular crowdfunding website, Kickstarter, has successfully funded over 55,000 different projects raising $959 million (Kickstarter 2014). The category of video games has become the most lucrative, with 29 successfully funded projects raising $1M or more. It is also number one for total dollars raised with $207 million being invested into this category.

Crowdfunding through Kickstarter would be an ideal avenue to source funding for this project, with the success rate of funding being achieved for games on this platform. For this project to achieve maximum exposure and potential investors, Kickstarter will be used as the crowdfunding website to help fund this smartphone app. As previously mentioned, Kickstarter has a proven success rate for video game funding, however, Rainbow Death Studios acknowledges that the success rate is relatively small at 34.95% (Kickstarter 2014).

 Published by Chris Murray

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