"users must define a specific “project” ... Kickstarter isn’t for handouts.... Creators must offer “rewards” to their backers: written notes of thanks, custom T-shirts, handmade objects.... [P]roject makers must pick a target dollar amount and a deadline. If they fall short of the goal, they get nothing.... The company takes a cut — 5 percent — of the money raised on successful projects. (The transactions are processed through an Amazon.com service, which takes a slightly smaller cut.) The founders say it is profitable."By the way, don't submit banal projects like "buy a prom dress" of "finance my art work", because they will surely be rejected, as all projects must FIRST get a green light from Kickstarter to get into the crowd-funding process:
Rob Walker writes as to what kinds of projects are preferably crowd-funded that:
"Wired recently assessed Kickstarter not as the champion of artistic underdogs but as “a lab for daring prototypes and ingenious products.”"
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