09/08/2012 05:40 BST | Updated 08/10/2012 06:12 BST

Ouya Open-Source Console Raises $8.5m On Kickstarter

A project to build an open-source Android gaming console has raised more than $8.5m.

The Ouya campaign on the crowd-source funding website Kickstarter saw more than 63,000 people back the idea.

Fans of the console were inspired by its mission to take on the big boys of the gaming world with a low price, hackable hardware and open operating system.

After the idea launched on 10 July it quickly caught the attention of the world's tech media, and smashed its original funding target of $950,000.

It eventually raised $8,596,475 from 63,416 backers.

Twelve people pledged more than $10,000 to support Ouya, for which they will receive a private dinner invite, credit on the first run of consoles and (of course) a device of their own.

The Tegra 3-powered console, designed by Yves Behar, will eventually retail at $99, and is still committed to an ambitious launch target of March 2013.

Ouya said it will fulfil Kickstarter and web pre-orders first, before putting the console on general release.

Since its fundraising effort sparked into life the company has hired Muffi Ghadiali from Lab126, who worked on Amazon's Kindle products, to help oversee Ouya's development. It has also attracted top games developers Square Enix and Namco Bandai, who said they will release games in time or shortly after the March release. The former said it will release a version of Final Fantasy III for the device, while Namco is consulting fans via Facebook for ideas.

The console has also inspired independent developers to seek their own funding goals on Kickstarter.

Cliffhanger Productions have already raised $280,000 of a $500,000 target to develop and release Shadowrun Online for Ouya, described as a "tactical single player, co-op, and player vs. player role-playing action" game. It will also be released on Mac, PC and Linux.

Other developers confirmed to be making games for the system include Plex, Vevo and Robotoki, and game streaming service OnLive said they will also support the device.

Ouya said about their console:

"We are designing the controller to be a love letter to console gaming. It will have everything you've learned to love: fast buttons, triggers, laser-precise analog sticks, a D-Pad - and it will have a touchpad for any games making the trek from mobile or tablet to the TV. It'll be just the right weight. We are working with select developers to play-test the controller through development. We call it 'the Stradivarius of controllers,' and we hope developers will be inspired to take gameplay to a new level with it."