Derrick
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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.
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, and initiating projects requires a U.S. bank account, barring foreign users to use the site as a result.
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 or use the money to do their projects. 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.
Source: Wikipedia
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, and initiating projects requires a U.S. bank account, barring foreign users to use the site as a result.
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 or use the money to do their projects. 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.
Source: Wikipedia