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CCP Raises $20m To Promote PS3 Exclusive Free-to-Play Shooter DUST 514

August 10, 2012 Written by Sebastian Moss

With CCP Games set to release their ambitious free-to-play PS3-only shooter DUST 514, they have raised enough capital to ensure that everybody will be able to hear about it.

The company’s CFO Joe Gallo explained to TechCrunch that the EVE Online publisher raised $20 million through convertible bonds from institutional investors in Iceland. With huge shooters like Call of Duty, Halo and Medal of Honor set to release this holiday, the more marketing the game can get the better, but CMO David Reid doesn’t believe that DUST needs to go “head-to-head with EA and Activision” because its persistent online nature means it doesn’t need a huge number of day one sales, and can slowly grow over time.

It’s also likely the $20 million figure is a record for a PSN-only game, with publishers rarely investing that much in advertising a product with no retail presence.

We previously spoke to Phil Wang, Community Manager at CCP Games, about DUST 514 about the difficulties of getting the console audience to accept the F2P model and whether it could be the standard for future games. While Wang remained upbeat, the currently ongoing closed beta has received a mixed reaction from players both because of its gameplay and its business model.