Sony has raised a $2 million in one of the most popular rounds of crowdfunding ever. It broke the record for a video game raising $1 million in the shortest time frame. It received pledges of $1 million in 46 minutes, second only to Pebble Time Watch who raised $1 million in 30 minutes.

Sony is raising funds to develop computer game Shenmue 3 in collaboration with gaming end users. The pitch raised its minimum target of $2 million in just over 9 hours and now has 30 days to raise additional funds.

The crowdfunding project was announced at the E3 electronic entertainment expo in Los Angeles in Sony’s press conference.

Sony is the latest corporate to adopt a crowdfunding strategy, not only to raise funds, but to involve the fans and consumers in the development of new products and services.

Earlier this year, London listed Hornby launched an Airfix crowdfunding project that gave model enthusiasts the opportunity to select a vintage model they would like to be manufactured. The one with the most votes will be produced and the backers will receive a kit.

Sony and Hornby’s strategy is representative of a wider research and development trend.

Having the consumer decided which products they would will be willing to buy and financially backing the products, not only cuts development costs but also marketing expenses. We see this trend continuing and watch with interest to see the next innovative crowdfunding project from an established corporate.