Kickstarter

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Kickstarter is a crowd funding website for creative projects. Kickstarter has funded a diverse array of endeavors, ranging from indie films, music and comics to journalism, video games, and food-related projects.


Contents

Model

One of a new set of fundraising platforms dubbed "crowd funding," Kickstarter facilitates gathering monetary resources from the general public, a model which circumvents many traditional avenues of investment. People must apply to Kickstarter in order to have a project posted on the site, and Kickstarter provides guidelines on what types of projects will be accepted. Project owners choose a deadline and a target minimum of funds to raise. If the chosen target is not gathered by the deadline, no funds are collected (this is known as a provision point mechanism). Money pledged by donors is collected using Amazon Payments.


Kickstarter takes 5% of the funds raised; Amazon charges an additional 3-5%. Unlike many forums for fundraising or investment, Kickstarter claims no ownership over the projects and the work they produce. However, projects launched on the site are permanently archived and accessible to the public. After funding is completed, projects and uploaded media cannot be edited or removed from the site.


There is no guarantee that people that post projects on Kickstarter will deliver on their projects, use the money to implement their projects, or that the completed projects will meet backers expectations, and Kickstarter itself has been accused of providing little quality control. Kickstarter advises sponsors to use their own judgment on supporting a project. They also warn project leaders that they could be liable for legal damages from sponsors for failure to deliver on promises. In May 2011 a New York University film student raised $1,726 to make a film, but plagiarized another film instead. The student publicly apologized and the issue has since been settled. Projects can also fail even after a successful fund raise when creators underestimate the total costs required or technical difficulties to be overcome.


Kicking It Forward

During the campaign for Wasteland 2, developer Brian Fargo developed the Kicking it Forward program. Under this program, Fargo's inXile Entertainment pledged to use 5% of post-launch net profits to back future Kickstarter projects. Many other projects have joined the program, such as Shadowrun Returns and Leisure Suit Larry: Reloaded.



References:

1.http://en.wikipedia.org/wiki/Kickstarter



External Links:

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