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Ignoring the pay to play concept of the game, the cost comes down to development time. As long as a release time has been set (quarter/year), the expected costs can be approximately calculated. $3m is a very high claim for any kind of indie game IMO, how many employees do SoulBound Studios even occupy?
That being said, their ideas seem innovative and game-changing, bringing about a new definition to the whole MMO genre. From what I read, the sparks of life are basically your character slots, so even if one character dies, your soul reincarnates into another character (am I wrong?). Also, holding more influence is actually penalized by decreasing your death timer a lot more when compared to casual characters.
All in all, it is a good concept, but even if the company manages to finish the game, the community will make or break it, big time.
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