So, I'm curious, what exactly happens to the leftover money from a Kickstarter campaign? Do the creators get to keep it all, or do they have to return some of it to the backers? And if they do keep it, what are the guidelines usual or practices surrounding how they can use it? I'm sure there are a lot of details to consider here, so I'm eager to learn more about how the process works.
7 answers
SumoPower
Fri Sep 06 2024
For example, a creator of a decentralized finance (DeFi) platform may use the funds to hire additional developers, enhance the platform's security measures, or create more sophisticated financial products for users.
ShintoMystic
Fri Sep 06 2024
Cryptocurrency projects often rely on crowdfunding to fund their initiatives. When a creator launches a campaign, they outline their goals and the rewards they plan to offer to supporters. These rewards can range from exclusive merchandise to digital tokens that grant access to the project's services.
Andrea
Fri Sep 06 2024
The success of a crowdfunding campaign is determined by the amount of funds collected from supporters. As the funds accumulate, the creator's project gains momentum and visibility.
CryptoGuru
Fri Sep 06 2024
Another important aspect of cryptocurrency crowdfunding is transparency. Supporters can track the progress of the campaign and see how their funds are being used. This level of accountability helps build trust and credibility with the project's community.
Giulia
Fri Sep 06 2024
Once the campaign ends, the collected funds are distributed to the creator, minus any fees charged by the crowdfunding platform. These fees typically cover the costs of hosting and managing the campaign.