We all know that the virtual reality gaming space will experience torrid growth over the coming months and years ahead. This may be the reason that we continue to find smaller developers garnering large sums of cash by way of investment for their future games and applications. The latest such investment comes way of the Swedish studio behind the PayDay series, Starbreeze. Starbreeeze has just announced a $750,000 investment in Freeform Labs’ upcoming game ElemenTerra.
ElemenTerra is the first game to be released by Freeform Labs, and is a world-building game that fully immerses its users in a virtual reality world. It was spawned out of a student project at USC, and certainly shows promise. Think of it as a 3D Sim City-like game, but with lots of characters to interact with, and of course the virtual reality elements.
“In our continued pursuit to further advance and evolve in our understanding of virtual reality, we’ve cast a wide net, encompassing several areas; our hardware initiative in the StarVR HMD, developing our own VR experiences as well as in our role as a publisher for other VR centric content producers. We especially acknowledge the importance of research and a young fresh point of view as the industry is collectively exploring an entirely new medium” said CEO of Starbreeze, Bo Andersson Klint.
In exchange for Starbreeze’s $750k investment, they will obtain 50% of the intellectual property rights of the game as well as a 50% cut in all royalties for the life of the game. With the rapid adoption of virtual reality headsets, and a game that seems to be targeted to almost any age-group, Starbreeze may have landed themselves quite a good bargain. At the same time, the terms of the investment are also favorable to Freeform Labs, as they do not give up any equity stake in their company. It’s just ElemenTerra which Starbreeze will have a stake in.
“We’re approaching VR world-building in a unique way that we believe is best suited to foster a prosperous community for everyone who loves to create or explore” explained Freeform Labs’ CEO Max Pittsley. “We couldn’t have asked for a better publisher to partner with for ElemenTerra. Starbreeze’s approach to VR is not only extremely innovative, but realistic and practical at the same time. We’re excited to work with Starbreeze to make VR world-building fun and social.”
While a specific timeline for the release of ElemenTerra has not yet been revealed, it does appear that the game will eventually be made available for the Oculus Rift as well as other VR headsets. Let’s hear your thoughts on this game and investment in the ElemenTerra forum on VRTalk.com. Below you will find a quick demo of the game so far: