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RPGWatch Forums » Comments » News Comments » KoA: Reckoning - Rhode Island Wants to Sell Kingdoms of Amalur and Copernicus

Default KoA: Reckoning - Rhode Island Wants to Sell Kingdoms of Amalur and Copernicus

May 21st, 2013, 10:33
We all know about the fate of 38 Studios, and their downfall after releasing KoA: Reckoning. Well now that the ashes have settled Rhode Island Wants to Sell Kingdoms of Amalur and Copernicus.
As one lawyer for Rhode Island makes the state's case this week against the people involved in the 38 Studios loan debacle, another is ready to sell the company's video games — once intended as progenitors of a new industry here.
"Who knows what the value ultimately will be," said Providence lawyer Richard J. Land. "But there is interest in the assets."
The company's most-valuable assets were its intellectual property — the drawings, designs and work related to its video games and the computer software supporting the games.
The state sued former Boston Red Sox pitcher Curt Schilling and 13 others in November in a separate attempt to recoup 38 Studios' $130-million debt. A hearing in that case is set for Wednesday.
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May 21st, 2013, 10:33
Very hard to pick up a software project when you have none of the original developers/artists, as often a lot of the ideas exist only the minds of the original team. And it's hard to know if Copernicus would have been a flyer even if it had launched on time. A few years later the market will be an entirely different place. So I don't imagine Rhode Island will get a lot of their $130m back.

No doubt the guys who screwed up will find some way of not coughing up too, generally the humble taxpayer is left to foot the bill in these cases, just as they are doing in the banking fiasco. The culprits rarely lose their luxurious piles.
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May 21st, 2013, 11:08
I don't know what the contract 38 Studios had with Rhode Island but if Rhode Island would have given them the proper amount of time to pay the loan then none of this would be happening. As it is the amount of time given was far shorter then a typical loan of this type. It is still the Studios fault for signing a contract with that short of time on it but the Rhode Island government should have never made the contract in the first place.
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May 21st, 2013, 15:54
Originally Posted by guenthar View Post
I don't know what the contract 38 Studios had with Rhode Island but if Rhode Island would have given them the proper amount of time to pay the loan then none of this would be happening. As it is the amount of time given was far shorter then a typical loan of this type. It is still the Studios fault for signing a contract with that short of time on it but the Rhode Island government should have never made the contract in the first place.
agreed, the idea of a state government of all entities giving a loan to a VIDEO GAME company is absurd. however all parties themselves share responsibility, and kurt schilling will be living less comfortable for the rest of his life.
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May 21st, 2013, 16:41
Originally Posted by cptbarkey View Post
agreed, the idea of a state government of all entities giving a loan to a VIDEO GAME company is absurd. however all parties themselves share responsibility, and kurt schilling will be living less comfortable for the rest of his life.
It's not absurd at all, why would you discriminate against video game companies over other kinds of companies?

Or is it the idea of state loans to help/attract local businesses that you think is absurd?
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May 21st, 2013, 16:44
I feel sorry for Curt Schilling. He was genuinely enthusiastic about KoA, was a real game enthusiast and actively participated in forum discussions.

He may have chewed off more than he could handle and everything suffered a meltdown… but I still admire the guy.

I hope all members of the development team manage to land on their feet. Quite a talented bunch.
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May 21st, 2013, 17:43
I understand Schilling is a died in the wool republican. Somewhat ironic then that he expects tax payers to bail out his screw ups, whilst he expects everyone else to just die if they can't afford health insurance.
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May 21st, 2013, 18:32
For what it's worth, I don't give a damn if he's Republican or Democrat. I wouldn't even care if his grand-pappy was a member of the Ku Klux Klan. I care about the game and its future.

KoA has masses of potential and it would be a shame to just let it die.
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May 21st, 2013, 21:14
Originally Posted by kalniel View Post
It's not absurd at all,speculative. you discriminate against video game companies over other kinds of companies?
Than answer to this easy: Yes, because it's so wildly speculative. Video games are a hugely risky venture, and the state officials who approved that loan should be ashamed of themselves for their foolish and irresponsible hamdling of the taxpayers' money. Government needs to be a better steward of the people's money than this.
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May 21st, 2013, 21:49
Originally Posted by Capt. Huggy Face View Post
Than answer to this easy: Yes, because it's so wildly speculative. Video games are a hugely risky venture, and the state officials who approved that loan should be ashamed of themselves for their foolish and irresponsible hamdling of the taxpayers' money. Government needs to be a better steward of the people's money than this.
Hindsight is 20/20. 38 Studios could have very easily turned into a powerhouse and everyone would be praising Rhode Island for being visionaries and giving them their start.

I just hope investors in the future don't look at this and shy away from loaning money to upstart game companies.
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May 21st, 2013, 22:07
Originally Posted by Fluent View Post
Hindsight is 20/20. 38 Studios could have very easily turned into a powerhouse and everyone would be praising Rhode Island for being visionaries and giving them their start.
I wouldn't. Feel free to search my posts. I said this before 38 Studios defaulted on their loan.

Originally Posted by Fluent View Post
I just hope investors in the future don't look at this and shy away from loaning money to upstart game companies.
Private investors? Fine. Governments? No.
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May 22nd, 2013, 15:10
Originally Posted by Capt. Huggy Face View Post
Than answer to this easy: Yes, because it's so wildly speculative. Video games are a hugely risky venture, and the state officials who approved that loan should be ashamed of themselves for their foolish and irresponsible hamdling of the taxpayers' money. Government needs to be a better steward of the people's money than this.
All business investment is inherently risky, I don't think the video game sector is especially worse than some others, whether that's banks or start-up companies. If you are elected to bring in work and encourage businesses then one of the ways you can do that is by making loans, and in the UK at least the video game sector is considered a good asset to support as we generate a lot of employment and exports through it.
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May 22nd, 2013, 17:08
Originally Posted by guenthar View Post
I don't know what the contract 38 Studios had with Rhode Island but if Rhode Island would have given them the proper amount of time to pay the loan then none of this would be happening. As it is the amount of time given was far shorter then a typical loan of this type. It is still the Studios fault for signing a contract with that short of time on it but the Rhode Island government should have never made the contract in the first place.
Yeah it was clear from the terms that both sides were a bit out of their depths as far as fitting this sort of thing to the development cycle of video games. Since 38 studios had also run short and was unable to meet payroll even without successfully paying the amount due on the loan though, they would have been in serious trouble even if the terms of the loan had been better fit to the development cycle of their MMO.
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