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A big name in the industry wanting to make a successor to one of the insutry's big names...and he is resorting to public funding?
It doesn't compute. If he wanted to make a low budget MMO he should have no problem securing funding, and the freedom to make the game he wanted to make.
But instead he is choosing to take advantage of the public, using the Camelot name to secure free capital he doesnt need to pay back. The whole thing seems off to me.
Just consider: If you use borrowed money, you have incentive to succeed. If you use free money, then it doesnt matter, you dont have to pay anyone back.
Kickstarter for a startup company of unknown developers is one thing. For a big name person developing a big name game though...It doesnt add up.