Here are the key points we covered in this chapter:
- Venture capital funding can generate a lot of capital for game development, but at the cost of developers losing some control of their product. Crowdfunding is also a viable option, but usually raises small amounts, and the market for crowdfunders may soon reach a saturation point.
- VC Nabeel Hyatt commented on what developers should know, when pitching to him: day one retention is the most important metric (aim for 60 percent), and good developers know why their game is working. A game should create a long-term aspiration for its players, and a good developer should know his or her strengths and weaknesses, and be able to state them to a VC.
- VC Jeremy Liew discussed what developers should know, when pitching to him: developers worth funding have the ability to make several hits, and a strategy of discoverability, so their games are easy to find. Game design is not predictive, compared to user engagement. Instead of launching late in the U.S. market, launch early in another market. And instead of competing with the game developer giants, find a niche genre and audience that hasn’t been sufficiently entertained on Facebook, the Web, and iOS. Old genres often have the chance to enjoy a second life on new platforms.
- To increase the chance you’ll have a successful crowdfunder for your game, be clear, compelling, and concise about the game you intend to make—and shoot your pitch on video. Create a common-sense reward structure ...