How to generate funds before Kickstarter(tongue in cheek).

naezgul

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Skooma2

I am extremely curious as what Kickstarter actually is.  As I understand it, people donate cash to fund development of an MMO (or any other product.) 

Questions:

1)  Why would you donate money to start up someone else's project?  Do you get shares of stock in the game and share in any profits?  If so, then it is an illegal IPO.

2)  What happens if not enough money was donated to Kickstarter and the project never gets off the ground?  Do you get  your money back, or, is it gone forever?

3)  Don't you believe that if the project had a chance at success that the devs could have obtained funding in the standard manner?

Reklaw

Originally posted by Skooma2

I am extremely curious as what Kickstarter actually is.  As I understand it, people donate cash to fund development of an MMO (or any other product.) 

Questions:

1)  Why would you donate money to start up someone else's project?  Do you get shares of stock in the game and share in any profits?  If so, then it is an illegal IPO.

2)  What happens if not enough money was donated to Kickstarter and the project never gets off the ground?  Do you get  your money back, or, is it gone forever?

3)  Don't you believe that if the project had a chance at success that the devs could have obtained funding in the standard manner?

 

http://www.kickstarter.com/help/faq/kickstarter%20basics

 

Vesavius

Originally posted by Skooma2

I am extremely curious as what Kickstarter actually is.  As I understand it, people donate cash to fund development of an MMO (or any other product.) 

Questions:

1)  Why would you donate money to start up someone else's project?  Do you get shares of stock in the game and share in any profits?  If so, then it is an illegal IPO.

Rewards are given for different levels of pledge as a reward for people that want to see projects that excite them, but wouldn't necessarily be made within the traditional framework, get realised. There is nothing illegal in it.

2)  What happens if not enough money was donated to Kickstarter and the project never gets off the ground?  Do you get  your money back, or, is it gone forever?

Crowd funding does have risks, which is why it is sensible to do your research before putting money into it. Never support anything that you don't trust or pay an amount that you cannot afford to lose.

3)  Don't you believe that if the project had a chance at success that the devs could have obtained funding in the standard manner?

No. The reliance on traditional investment (VCs etc) is a large part of the problem of why a lot of mdern games are so lacking in so many ways. Crowd funding helps a grass roots 'indie' scene thrive,  offering testbeds for new ideas and to prove the viability of niche markets, and that can only be a good thing for us all.

 

BowbowDAoC

the amount you "give" is not actually took from your account as long as the project isnt fully funded. if the $2 millions is reached, than nothing is taken.

So the amount you give is taken on your account when the kickstarter campaign is:

a) over and

b) successful.

Wazluk

It's crazy what how far a little researching goes...

naezgul

I believe Kickstarter is partnered with amazon.com, the money is held in escrow until the proposed amount is reached. Else, it is refunded. Also, I believe KS does not just let anyone put up what they want without any background and sound direction with relation to the project and how much is being wanted.

Zinzan

Originally posted by Skooma2

I am extremely curious as what Kickstarter actually is.  As I understand it, people donate cash to fund development of an MMO (or any other product.) 

Questions:

1)  Why would you donate money to start up someone else's project?  Do you get shares of stock in the game and share in any profits?  If so, then it is an illegal IPO.

2)  What happens if not enough money was donated to Kickstarter and the project never gets off the ground?  Do you get  your money back, or, is it gone forever?

3)  Don't you believe that if the project had a chance at success that the devs could have obtained funding in the standard manner?

It's not really a donation, people usually expect something in return. Be it beta access, early access, limited titles/items in game, it's always something.