Capital Entertainment Group, the games and concept funding enterprise set up by Gene Mauro, Mark Hood and ex-Microsoft Xbox staffers Seamus Blackley and Kevin Bachus, has folded after two tempestuous years in the videogames sector.
The concept of CEG was as simple as it was revolutionary. Games would be funded from concept stage to around 50% of completion. Then the project would be pitched to key publishing outfits, often as part of an auction set-up, with the game going to the highest budded.
It didn’t work, and last week, a $30 million hole in the accounts forced the revolutionary outfit to close its doors.
The industry has now lost what some regarded as perhaps the last bastion of truly original content with the possibility of making it onto store shelves. In cynical times of licensed gaming, powered by endorsements, all with an absolute focus on the marketing opportunities offered over and above gameplay merit and artistic integrity, CEG offered a chance for developers to free themselves from a publishing industry that is slowly but surely eating out its own heart.
Rumour is rife this morning that both Blackley and Bachus are in talks with Sega of America regarding as yet unspecified future projects.
Our commiserations go out to all involved with CEG. We’ll bring you updates of any possible Sega deal, as it breaks.
The concept of CEG was as simple as it was revolutionary. Games would be funded from concept stage to around 50% of completion. Then the project would be pitched to key publishing outfits, often as part of an auction set-up, with the game going to the highest budded.
It didn’t work, and last week, a $30 million hole in the accounts forced the revolutionary outfit to close its doors.
The industry has now lost what some regarded as perhaps the last bastion of truly original content with the possibility of making it onto store shelves. In cynical times of licensed gaming, powered by endorsements, all with an absolute focus on the marketing opportunities offered over and above gameplay merit and artistic integrity, CEG offered a chance for developers to free themselves from a publishing industry that is slowly but surely eating out its own heart.
Rumour is rife this morning that both Blackley and Bachus are in talks with Sega of America regarding as yet unspecified future projects.
Our commiserations go out to all involved with CEG. We’ll bring you updates of any possible Sega deal, as it breaks.
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