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38 Studios Having Trouble Pitching Investors

Updated Tue, Jul 28, 2009 by Martuk

38 Studios is looking for investors, but thus far the company isn't having a lot of luck and Curt Schilling is footing most of the bill. With the development of their first MMORPG codenamed Project Copernicus, Schilling has spent in excess of $5 million dollars to keep the game moving forward. 38 Studios is aiming high and hoping to create a credible rival to World of Warcraft as the company estimates it will take anywhere from $50 million to over $100 million dollars to complete production of Project Copernicus by their tentative ship date of 2010. However, the lack of investors doesn't have Schilling down, he simply compares pitching a game in a bad economy to pitching a baseball game in the rain.

38 Studios’ goal - the company’s name comes from Schilling’s old uniform number - is as ambitious as Schilling was when he vowed to lead the Red Sox to a championship upon joining the team, even though the team hadn’t won the World Series in more than 80 years. The company has set its sights on building a credible rival to World of Warcraft, the online fantasy game owned by the media conglomerate Vivendi SA. WoW, as it is commonly called, is a massively multiplayer online role playing game with 12 million players, who each pay a monthly fee; those subscription fees generate more than $1 billion in revenue each year.

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