The Boston Globe yesterday reported something rather fitting about 38 Studios, the defunct maker of the RPG Kingdoms of Amalur: Reckoning. Curt Schilling, the studio's founder, posted $5 million in actual gold coins to secure a loan to stabilize the company back in February.
That's right. One-ounce gold pieces—"some 200 pounds of South African Krugerrands, Canadian Maple Leafs and American Eagles," says the Globe, according to financial documents filed in Massachusetts.
The Globe says that Schilling is the only debtor on the document, which doesn't list the purpose of the loan, but notes that Schilling said he'd personally guaranteed $12 million in loans as part of a $50 million investment he'd made in his business.
38 Studios went bust in May, at the center of a political brouhaha involving the sizable tax credits Rhode Island gave the company to get it to locate in that state. All of the studio's staff, which hadn't been paid since the end of April, were laid off May 24.
Curt Schilling put up $5m in gold as collateral for loan [The Boston Globe. h/t Wizzard419]