Kickstarter is a great way to fund a project. Projects can be the creation of anything, including books, music albums, films, video games or something similar.
Kickstarter is a great way to fund a project…
Projects can be the creation of anything, including books, music albums, films, video games or something similar.
Funding a project through Kickstarter relies on crowd funding, where a bunch of people, called backers, donate small amounts, which can really add up. In exchange for the donation, each pledge comes with a reward, based on the amount. Rewards usually include a copy of the finished product but top level rewards can include anything from unique collectibles to being able to meet the creators. Should the project not raise its target amount, no money is actually collected and no rewards are given to backers.
Because a project does not receive partial funding if the target goal is not met, it means raising money is an all or nothing gamble. Those considering creating a Kickstarter campaign should make sure the project has a good chance of doing well to reduce the likelihood of wasting time campaigning. It's also important that enough time and effort is put into marketing the campaign so people can find out about it. The rewards offered need to have value to make backers interested in pledging donations, but not so expensive that money is actually lost in fulfilling the rewards. If the project gets completely funded, but the project never gets finished, all backers will have to have their donations refunded and there might be legal action to deal with as well. These are all important considerations to think about before deciding to start a Kickstarter campaign.