Gaming Console Ouya Raises $1 Million on Kickstarter in 8 Hours

With the help of nearly 9,000 backers, Ouya reaches and breaks its $950,000 fundraising goal.

It wasn't until this past February that Kickstarter brought a single project over the $1 million mark. Today, it has made that one-time accomplishment look all too easy. In just minutes more than eight hours, the gaming console Ouya blew past its $950,000 goal. As of right now, it has raised $1,111,839 from nearly 9,000 different backers. Ouya, which is expected to ship in early spring of next year, is built on Android and is designed to be fully open and free to all developers. As they say on their Kickstarter page, "Anyone can make a game: every OUYA console is a dev kit. No need to purchase a license or an expensive SDK."

There's no question that the project's success stems from the winning idea behind it -- many developers are frustrated with the current closed system of game design and production. But the other big story here is the coming-of-age of Kickstarter, powered by thousands of people willing to throw some money around to see the development of products and projects they love. A million dollars may not be huge in the world of venture capital, but to bring a serious gaming console off the ground -- and to do it so quickly -- is a demonstration of the power Kickstarter can now bring to bear.

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Rebecca J. Rosen is a senior editor at The Atlantic, where she oversees the Business Channel. She was previously an associate editor at The Wilson Quarterly.

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