Kickstarter's updates its rules for failed projects

Updates rules for Kickstarter projects, after a massive failed Kickstarter game got cancelled.

@anthony256
Published Mon, Sep 22 2014 1:33 AM CDT   |   Updated Sat, Aug 8 2020 10:29 AM CDT

After a massive Kickstarter game was officially cancelled on Thursday, the company has updated its terms to better protect people from being stung by cancelled projects. The project in question was science fiction author Neal Stephenson, with his $526,000 in funding up in the air after cancelling his project late last week.

Kickstarter's updates its rules for failed projects | TweakTown.com

Section 4 of Kickstarter's new terms states that it will help project creators set themselves up better for success, and to not upset their backers. If the creators behind a Kickstarter project can't deliver their goods, the company explains how it will try and make good when creators don't fulfil their goals, or backer rewards.

If this does happen, creators are expected to explain themselves as to what is happening, and where all the money has gone. If the project was cancelled, Kickstarter expects creators to issue refunds to anyone who asks for them. Kickstarter reiterates that when refunds are offered, backers can "explain how those funds will be used to complete the project in some alternate form", but I don't see many people having faith in a creator if their project fails, but the option is there. Estimated completion dates, to Kickstarter, are just that: estimations. They are not deadlines, with Kickstarter having no power to issue refunds. But, backers can pull their pledge out anytime during the funding process.

NEWS SOURCE:arstechnica.com

Anthony is a long time PC enthusiast with a passion of hate for games built around consoles. FPS gaming since the pre-Quake days, where you were insulted if you used a mouse to aim, he has been addicted to gaming and hardware ever since. Working in IT retail for 10 years gave him great experience with custom-built PCs. His addiction to GPU tech is unwavering.

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