ICE was incorporated in 1980 after the principle founders graduated from the University of Virginia. ICE's primary focus, then and now, was on non-electronic, or "table top", role-playing games (RPG's) marketed to the RPG hobbyist[?] market.
ICE's Tolkien-based RPG, Middle Earth Role Play, is the second best selling fantasy RPG after Hasbro's Dungeons & Dragons. These products have been developed and refined over a twenty-year period, and have achieved commercial and critical success, selling over $30 million of game products. ICE products have been given several game-of-the-year awards domestically, including those from the Game Manufacturers Association[?] (GAMA) in 1996. They also won several awards overseas.
Despite ICE's many successes, the company entered bankruptcy and made the decision to wind itself up under Chapter 7 in October of 2000. In 1997, ICE suffered financial difficulties due to the rapid decline in its distribution net where nearly 70% of ICE's distributors either went bankrupt or became moribund. In December of 2001, ICE was purchased by Aurigas Aldebaron LLC[?], an intellectual property ownership company backed by several wealthy individuals.
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