Ys Net

In less than two hours, Shenmue 3 -- which went live on Kickstarter at 6:51 p.m. PT Monday-- reached the $1 million mark on the crowdfunding site. That's faster than any other game and second fastest for any Kickstarter campaign.

Shenmue 3's speed comes in only behind smartwatch Pebble Time, which reached the $1 million mark in just 49 minutes, and ahead of Reaper Miniature Bones II, at around two and a half hours.

It's also soared ahead of Banjo-Kazooie spiritual successor Yooka-Laylee. That video game launched on Kickstarter just last month, hitting $1 million at around the 6-hour mark.

Shenmue 3, which was announced during Sony's presentation at this year's E3 conference, is seeking a minimum of $2 million in funding, which developer Ys Net said would go towards creating the game in collaboration with fans. The series, first published in 1999 by Sega, combines action-adventure and role-playing. Set in Japan, the storyline focuses on a young man trying to avenge his father's murder.

"Since the release of Shenmue 2, now 14 years ago, I have been greeted by the passionate outpouring of dedicated fans and Shenmue community members wherever I go. They all want to know one thing: 'When will Shenmue 3 be coming out?' With the advent of games using Kickstarter during these past few years, the new and now frequent demand from the fans has been, 'Do a Kickstarter for Shenmue 3!'" director and producer Yu Suzuki wrote.

"If Shenmue 3 was going to get made, I wanted to make it with the fans. Through Kickstarter, I knew that could happen. Together, with Shenmue fans everywhere, I knew we could build the game that the series deserves."

Shenmue 3 reached $1 million within around an hour and 40 minutes of the campaign's launch.

Follow all the latest news from E3 2015 on CNET and GameSpot.