RI Economic Development Corporation: $75 million for Schilling
Tuesday, July 27, 2010
Founded by Curt Schilling, former Red Sox pitcher, 38 Studios is prophesied as the upcoming new breakthrough in gaming. Schilling has always been a video game addict, and now that he is retired can put his focus into making games that he loves better.
38 Studios should now be coming to RI, since the RIEDC's decided to approve the $75 million in loan guarantees for the company. 38 Studios has the potential to bring plenty of jobs and opportunity to RI, but has not yet proven itself as a company. Did the RIEDC make the right choice in approving these loans?
Schilling's company is in the process of creating "an original IP (intelectual property) that encompasses multiple media forms including comics, movies, toys, books, TV, a role-playing game (RPG), and a massively multiplayer online game (MMOG) that will be unleashed to the world in a few years," according to their press release.
While the company has plenty of potential, they are new and have yet to make any revenue yet. In the gaming industry, you have to bank on your game being a "hit". If not, usually losses incur. To their credit, 38 Studios has somewhat of a star-studding roster when it comes to gaming. The names such as Todd McFarlane (Emmy Award winning Spawn) and R.A. Salvatore (NY Times best selling The Dark Elf Trilogy) will mean a lot to you if you know anything about the game world.
Did the RIEDC make the right choice on this one?
Enjoy this post? Share it with others.
Commenting is not available in this channel entry.
Comments:
RI Taxpayer
7:20am on Tuesday, July 27, 2010
GoLoPro asks "Did the RIEDC make the right choice on this one?"
It's never the right choice to put all your eggs in one basket. Schilling is moving his company down here because even he can't believe the deal he's getting.