Update: The fans have spoken. Double Fine's Kickstarter project for a new graphic-adventure game has been fully funded, raising more than $550,000 less than 24 hours after it was announced.

The original goal was to raise $400,000 to fund the project. As explained on the FAQ, the additional revenue will be folded back into the project, both in the game itself and its associated documentary.

Original Story: It may not be Psychonauts 2 (yet), but quirky developer Double Fine is working on a brand new old-school adventure game, and they want the help of their fans to pay for the project.

The new project is described as a downloadable point-and-click adventure game that will be worked on by Tim Schafer and Ron Gilbert, two developers well-known and beloved for their contributions to the adventure game genre in years long past.

Double Fine is hoping to be "the first major studio to fully finance their next game with Kickstarter," a website that allows people to donate money toward various projects that are usually of a smaller, more indie variety. Double Fine is seeking donations of $400,000 over the next 33 days, and as with all Kickstarter projects those who donate will receive some nice rewards.

For example, pledging the minimum of $15 earns you a copy of the game on Steam upon its completion as well as beta access before it's finished and the ability to view a serial documentary on the development process put together by the talented 2 Player Productions. If you pledge $100, you'll get all of that plus a unique poster and thanks in the game's credits. Want to drop $1,000? You'll get all of the aforementioned stuff AND a portrait of yourself painted by the art team. They're even giving away lunch with Tim Schafer and Ron Gilbert for $10,000 and copies of Schafer's classic Day of the Tentacle still shrink-wrapped for anyone loaded enough to pledge $150,000.

In a section on the Kickstarter page explaining why they've decided to go with this route to help fund the project, Double Fine explains:

"To finance the production, promotion, and distribution of these massive undertakings, companies like Double Fine have to rely on external sources like publishers, investment firms, or loans. And while they fulfill an important role in the process, their involvement also comes with significant strings attached that can pull the game in the wrong directions or even cancel its production altogether."

Double Fine refers to Kickstarter as "a viable alternative" and "an incredible boon to the independent development community." Funding the game this way will allow the developer to "make the game they want to make, promote it in whatever manner they deem appropriate, and release the finished product on their own terms."

Assuming the money comes in, Double Fine is hoping to release this project in October of this year with frequent video updates for contributers and beta access throughout the year. The developer also says that iOS and Mac versions could happen if they go over their money goal.

So who's ready to whip out the wallet and how much money are you going to give them? Be sure to hit up Double Fine's Kickstarter page for full details.