Tonight at 9:00, there was an announcement made from a defunct band in Colorado called Five Iron Frenzy. They announced that they would be making a new album with help from their fans and a website called kickstarter.

By 9:56 on the same day, they had raised the $30,000 they needed in order to produce the album.

Five Iron is one of my all time favorite bands, and it’s clear that I’m not the only one who thinks this way. I wanted to write a “Welcome Back” post for the band, but I don’t think they really need it after the amazing reception their kickstarter project got. Instead I want to turn some more attention towards kickstarter.

Kickstarter is a site that lets you create a project in need of funding, and allows people do donate money to a cause. As an incentive for donating, the host of the project can give out prizes, in the case of Five Iron Frenzy, this ranges from things like stickers, copies of the album, and autographed memorabilia, all the way to being able to hang out with the band in studio while they make the album.

I think using Kickstarter was a great way to fund an album. It lets you fans support it, and it can be extremely effective. (It is 10:09 and they have raised $40,141)

Here are the ground rules for kickstarter from their website:

“Kickstarter is the world’s largest funding platform for creative projects. Every week, tens of thousands of amazing people pledge millions of dollars to projects from the worlds of music, film, art, technology, design, food, publishing and other creative fields.

A new form of commerce and patronage. This is not about investment or lending. Project creators keep 100% ownership and control over their work. Instead, they offer products and experiences that are unique to each project.

All or nothing funding. On Kickstarter, a project must reach its funding goal before time runs out or no money changes hands. Why? It protects everyone involved. Creators aren’t expected to develop their project without necessary funds, and it allows anyone to test concepts without risk.

Each and every project is the independent creation of someone like you. Projects are big and small, serious and whimsical, traditional and experimental. They’re inspiring, entertaining and unbelievably diverse. We hope you agree… Welcome to Kickstarter!”

I think it can be used beyond just funding an album, it could be used to fund a variety of art projects that grants and other more traditional sources of income for artists simply don’t. I make short films as a hobby, and I can definitely see using kickstarter as a way to help raise money. It worked for a defunct band from Denver, Colorado. Why not a suburban hipster in Columbus, Ohio?

(I finished this article at 10:16, Five Iron Frenzy had raised $42,398 and counting)