Seeking VC investors can be quite the challenge, but that wasn’t the case for Dino Patti and Playdead Games, as the keynote speaker revealed on the final day of GameON: Finance.
The CEO and co-founder of Denmark’s Playdead Games sat down with The Electric Playground’s Shaun Hatton to discuss his financing experience with the gameco’s first project, the critically acclaimed Xbox Live Arcade title Limbo.
In fact, Patti revealed in a one-on-one interview with Playback Daily that he only made six pitches and received interest from three of them. “Some people tell me that they have to go to 50 investors before one of them will say yes,” he adds.
It’s a testament to the strength of the eerie Limbo, which blends a minimalist charcoal-inspired art style and plays on fears of the unknown in a puzzle platform title. Patti feels grateful that along the way, he and his team never had to compromise their vision for the game.
“Financing came because we promoted the artistic side,” Patti tells Playback Daily.
On stage with Hatton, he reveals there were disagreements with the investors along the way. “It was about the view of the company – we wanted to make a good game, and they wanted money.
“The value of the game is in the long run,” he stated to the crowd. “Value takes time and it can make a huge difference.”
And it was Playdead’s passion for the game that Patti feels is what fueled publisher interest, he tells Playback Daily. It wasn’t long before offers started coming in and Limbo hard garnered quite a bit of hype in the press and among gamer circles.
The title was budgeted at US$2.7 million, with the first $50,000 initially coming out of pocket for a year before investors came on board.
The title was launched exclusively with Microsoft for digital download on Xbox Live Arcade last July.
Patti added in his keynote interview that Denmark is watching Canada closely to find out how it funds games.