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As VCs slow gaming investments, Frost Giant turns to community for fresh capital
The company's decision to test the waters for an equity crowdfunding round comes after it sold several million dollars worth of goodies to its fanbase on Kickstarter earlier this year.
Frost Giant has said publicly that “Stormgate is fully funded to release,” which means that the new capital could extend its post-launch runway, affording it more time to grow its revenue and better attract venture dollars should it need to. Still, if the Stormgate crew decides to look to traditional private-market investors, it could face an uphill battle: Venture investment into gaming companies declined 79% globally and 86% in the United States last year compared to 2022. Per Morten, fans of Starcraft 2 liked the increased amount of campaign content, cosmetics, and heroes they could choose co-op modes in that game, so expect to see similar products from Stormgate in time.
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