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Double Fine Kickstarts $1m+ In 24 Hours, Inspires UKIE To Help Legalise British Crowd Funding

Author:
Jonathan Lester
Category:
News
Tags:
Crowd Funding, Double Fine, Kickstarter, UK

Double Fine Kickstarts m+ In 24 Hours, Inspires UKIE To Help Legalise British Crowd Funding

UK Devs "Restricted" By Current Laws

Double Fine's Kickstarter venture has now raised over $1,200,000 in 24 hours, shattering records and granting them a massive war chest to put towards developing their mysterious new adventure game.

This is more important than just proving that adventure games still have an audience, though. It demonstrates that even relatively major developers can use crowd funding to cut out publishers completely... thus retaining creative control of their own franchises and 100% of their own profits. With such a powerful tool at their disposal, British industry body UKIE will be seeking to convince the government to relax our current legislation and let homegrown developers take advantage of this emergent funding alternative. More details below.

Games and interactive entertainment trade body, UKIE, has today announced that it will be publishing a new Crowd Funding Report. The new report will call for changes in legislation, that will allow games and interactive entertainment businesses and SMEs from all other sectors to take advantage of crowd funding to finance their businesses. The games industry is at the forefront of the adoption of crowd funding - but it has an incredibly wide potential application.

However, the growth of crowd funding in the UK is "restricted by the current legal and regulatory framework." I.e. British developers literally can't use Kickstarter, or anything of the sort. UKIE is therefore preparing a detailed report of how the law could be changed to facilitate crowd funding, allowing UK businesses to use it to raise money. The UKIE Crowd Funding Report will be published on 17 February.

Double Fine’s Kickstarter project has today shown the huge potential of crowd funding to benefit games and interactive entertainment businesses. We need the UK to be able to take full advantage of crowd funding and UKIE’s Crowd Funding Report, due next week, will outline exactly what needs to be done for this to be possible. - UKIE Chief Executive Jo Twist

Of course, creating games on Kickstarter goodwill is nothing new. No Time To Explain and Throne Of Deceit were both funded by Kickstarter - but with Double Fine setting a record breaking precedent, we could potentially see more major companies experimenting with the freedom it offers.

Add a comment 1 comment
DivideByZero  Feb. 10, 2012 at 14:08

I fully back this idea.. and financially too.

It helps having Tim's status to start doing something like this, but think it's a great idea.

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