Most indie / crowd funded MMORPG efforts have blown well past their original release dates, some by many years now.
Often this is dismissed by some as a necessary evil or nothing to be concerned about, better Dev's take all the time necessary than rush the game out the door too soon.
Admirable goal of course, except for the inconvenient truth of burn rates.
Actually more of an investment term, it is basically the amount of money a team spends monthly for all expenses while not generating revenues.
On a fixed project budget it allows for a projection on when the money will run out, assuming no additional funding.
Of course, most indie efforts continue to raise more money through either investors or more crowd funding so this date can continue to move out but except for a few like Robert's Industries the tap isn't unlimited and one day there will come a day of reckoning, where it will be time to ship or get off the pot.
I believe a couple of efforts are showing some signs of financial strain already, with increasing focus on raising additional funds to "finish the game" while providing less and less evidence of actual progress towards completing development and launching.
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Just trying to live long enough to play a new, released MMORPG, playing New Worlds atm
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One big question is, how long can Brad and the other devs go with no income? For most of us there is a limit to that sort of thing. To me that date has a lot to do with the release date.
I feel like if Brad really planned on taking this all the way to release, there would be a greater sense of urgency.
But if he plans to sell it to someone else to finish, taking his time and getting it just right on one large "proof of concept" zone , it makes sense.
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They know damn well they can't release when they promised but they also know you're more likely to "donate" for something 2 years away and not so much for something 7 years down the line... so they lie.
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Having been involved in many, I can tell you that this is definitely so.
So couple that with the idea that it's also "software development," one can see the problem. I worked for a software developer and I remember the team telling me that it was difficult to tell when things would be done. Of course, the scope of these projects didn't have the subjective component that "they have to be engaging and fun."
They just need to work.
Now tack on all the "fun" bits, the "game bits" the "it has to not only work but also be something that people want to play, and that adds a whole other axis.
Godfred's Tomb Trailer: https://youtu.be/-nsXGddj_4w
Original Skyrim: https://www.nexusmods.com/skyrim/mods/109547
Serph toze kindly has started a walk-through. https://youtu.be/UIelCK-lldo
Though if the project is truly massive and the deadline is reasonably extended, and the PM has been a good job all throughout, then it can be excused.
But too often especially with these crowdfunded initiatives, you have hastily put together teams of what are essentially Nerds with a great idea but terrible project management skills, and delusions of grandeur in terms of what they can achieve and under what time frame and costs.
Generally speaking, avoid putting an artist as the project manager/director (Kojima I'm looking at you). The artist should provide the vision not implement it.
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Most of the deadline are set assuming nothing went wrong. Which something always go wrong.