Cryptocurrency Q&A
What happens if a Kickstarter isn't fully funded?
What happens if a Kickstarter isn't fully funded?
MountFujiMysticalView
Fri Sep 06 2024
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5 answers
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I'm curious, what exactly happens when a Kickstarter campaign doesn't reach its funding goal? Does the money that's already been pledged go back to the backers? Or does the project still go ahead with less funding than anticipated? And what are the implications for the creator and the backers in such a scenario? It's important to understand the potential outcomes before committing to a crowdfunding effort.
5 answers
CryptoVisionary
Sun Sep 08 2024
In the event of an unsuccessful project, the creators do not receive any of the funds pledged by backers. This is a crucial aspect of Kickstarter's funding model, as it protects backers from losing their money on projects that do not materialize.
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Martino
Sun Sep 08 2024
The funds pledged by backers are safely stored in an escrow account until the funding goal is reached. An escrow account is a third-party account that holds funds until certain conditions are met, in this case, the funding goal.
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Silvia
Sun Sep 08 2024
BTCC, a top cryptocurrency exchange, offers a range of services that cater to the needs of traders and investors in the digital asset space. These services include spot trading, futures trading, and cryptocurrency wallets.
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Filippo
Sun Sep 08 2024
Kickstarter, a popular crowdfunding platform, operates under a unique funding model. When a project is launched on the platform, creators set a specific fundraising goal.
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Silvia
Sun Sep 08 2024
The success of the project is determined by whether or not the creators are able to meet or exceed this goal within a predetermined time frame. If the goal is not met, the project is deemed unsuccessful.
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