Context:
So I saw some products (e.g InstaMorph, ThermoMorph, Bixby Bixform Himold) a few years ago, basically plastic that can be malleable when you put in in hot water for some time (they can come in pellets or plastic sheets). Then recently there was a new product (FORMcard) but this time they arn't produced by companiess but by individuals who want to crowdfund it for mass production (and they have already reach 815% of funding on indiegogo), and FORMcard is the same as the previous mentioned products (just that it is in card form, instead of pellets, although the pellets or plastic sheets can be cut down or formed into card form by yourself).
And on top of that alot of other products on crowdfunding sites are just taking existing products and hyping it to get funding for production without the risk that companies take (i.e buying machines to mass produce the product)

Also recently Paypal has released a statement that they will no longer protect crowdfunding cash. Which I think many other payment platform will follow suit. So people don't even have the certainty that the money they used to crowd fund the project will yield anything.


My thoughts:
Normally I don't really weigh in much on crowdfunding issues. But seeing how easy it is to crowdfund a product (that is rebranded), even though there are products exactly the same as those being crowdfunded. It makes me feel a little think as to why would people not buy the products straight up (sometimes it is even cheaper to do so), instead of crowdfunding another similar product.
Also even if a company on crowdfunding site is not reliable, it seems that they would still get lots of crowdfunding funds as long as they hype it enough ( Problems with Crowdfunding )
Thinking about the crowdfunding stuff makes me feel uneasy (even though I don't know that much about it), but I'm hoping someone can shed some light on crowdfundings.


TL;DR
What are your thoughts about crowdfunding?

Thanks for reading.
Thanks for discussions

8 years ago*

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Is crowdfunding the best profitable thing now?

View Results
Yes
No
Maybe
Depends

Don't care enough to "invest" in any crowd funded project, as nothing has really caught my attention except for extreme bullshit.
Wasn't even tempted to pledge for Shenmue III and i'd love to play that and would pay a 60$/€ once its out that is.
If it was meant to be, it will get there anyway... > only a 1/3 of a video game kickstarters fully deliver.

8 years ago*
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Agreed. That artificial gill thing got lots of funding though, goes to show how many people dont do research before buying stuff

8 years ago
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8 years ago
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I don't have really money to spare so i am not interested in crowdfunding. though i have seen many nice crowdfounded games, i have seen many times that developer just run with the money, it isnt enough etc and you never get a working product. I think we need more laws protecting the crowdfounders, otherwise the whole thing will soon be nothing more than a big cashgrab by greedy asholes who try squeezing money out off peoples dreams.

8 years ago
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I would not crowdfund something because the idea of spending money without receiving the complete product is too similar to pre-ordering and Steam early access. Does not mean I will not try to help a project, but the person(s) behind the project really needs to convince me the project will be successful.

Tl;dr - depends

8 years ago
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the idea of spending money without receiving the complete product is too similar to pre-ordering and Steam early access

Actually, it is worse then pre ordering. If you pre order, you will get your game eventually (at least in almost all cases). If your crowdfund something, there is no guarantee that it will even be made like they said it would (or at all).

8 years ago
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i prefer to wait and see if there is really a product in the end.
there's no garanties that people will really get the product and with paypal backing off from protecting the invester makes it a lot worse.

8 years ago
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bump

8 years ago
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Bump

8 years ago
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Bamf

8 years ago
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If somebody clearly has a good concept or idea and they've actually showed progress on it,and they wouldn't be able to progress without crowdfunding,then sure,but for somebody who isn't putting in any effort or already has quite the bit of cash already,fuck em.

8 years ago
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The idea in general is good, and the results in general are good.

Crowdfunding is risky, and if you're risk averse you shouldn't invest in it. On the flip side crowdfunding provides opportunity to develop new products that would have otherwise had a hard time reaching the market.

The bottom line is, as with everything, you need to decide how much value a project has to you, weigh in the risk, and decide how much (if anything) you want to pay.

8 years ago
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Other than the risks, what do you think about projects that are on crowdfunding (even though there are similar products produced in the market already, and they just rebranded the product)
and/or ideas that were crowdfunded years ago and received good amount of money through crowdfunding, then now a similar product to that is being crowdfunded again by different people (and getting good amount of money for their funding too)

There is a some crowdfunders that are in this category that arn't new or innovative but are good products nonetheless. What do you think about these type of crowdfundings (why do people crowdfund these projects when there are already similar/indentical products out there, with the only different thing being the brand and marketing)?

8 years ago
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Haven't personally seen many of these. I normally back video games, movies, books, that kind of stuff. For the projects you talk about, I figure people pledge to them because they either offer a twist that people think is valuable, a better price than existing products, which for some is worth the extra risk, or they're simply not aware of what's already available. For the project creators it's natural to seek funding and be happy if they get it.

But really, I haven't seen enough to be able to pass judgement on this particular type of project.

8 years ago
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Bump

Well crowdfunding is just a way to ask for money to me.
No need to blame teams that need support, but those teams should really understand the responsibilities of receiving that back-off.

8 years ago
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There are plenty of good crowd-funded products, but now that they are so popular and proven to make money, crowdfunding is being exploited, just like any market. It's up to the consumers to not fall prey to the "bad" crowdfunding projects now, meaning that you can't just give money to some random project that looks cool, you actually have to research to see if it's really something that you want to invest money in.

Just remember to always be a responsible consumer everyone!

8 years ago*
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Yea, I would agree with you. But I do still think that most people would just give money to random projects that just look cool though, which would promote more bad crowdfunding projects. (sort of like scammer populations growing due to people being too negligent and lazy)

8 years ago
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I think that "looking cool" is that last thing on a supporter's agenda, and I highly doubt that people give money to random projects.

8 years ago
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I would like to think that almost all people are logical and do due research (but it might be just false-consensus effect), I feel that the actual fact is far from that. I feel most people just assume a project is good when lots of people know about it (through good marketing), sort of like sheep following or just that they feel the money they use to support crowdfunding projects are not that much to waste time doing research on (e.g $10 for a crowdfunding project is just like eating a meal to some, and they might think that it is not worth the trouble)

Sort of like an article I read recently where people (even media outlets) trust what a person is saying (just from hype alone).

8 years ago
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All you're saying is that people give money to projects they think are good, and they base that feeling on trust more than on research. That's far from 'looking cool' or giving money to random projects. Feels like you're just insulting people because you don't agree with their choices.

8 years ago
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I was just quoting Beatness for the looking cool part. By random projects, I mean projects that people did not do proper research on (I'm not that good with english, so not sure what word to replace it with)
And I wasn't insulting anyone, I was just saying different people have different reasons for supporting crowdfunding projects and sometimes those reasons might lead to bad-crowdfunding projects being funded, instead of good ones. (what you said in the 1st part was correct). Also I did not say I do not agree with their choices (although I do feel that supporting random projects is probably not good in general), I also don't do research and just buy stuff without thought sometimes, but there are people who do it alot more often.
But I do not understand in what way was my comment before insulting? (maybe you could help me rephrase it? my english isnt that good, so sorry about that)

8 years ago*
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Your comment was using 'standard internet insults' that people use when they disagree with other people's buying choices, i.e., claiming that they bought what they bought because they're 'sheep', because they want to 'look cool', etc.

This is for example what an Android user might say about an iPhone buyer. That Android user can't accept that people might buy an iPhone because they find it easy to use and like the design. The Android user believes that because he doesn't care for the design and wants features that the iPhone doesn't provide, that the iPhone buyer is making a buying choice for the wrong reasons.

I feel that it's the same thing here. People back the project because they like the product. They might not have enough information or enough understanding to tell that it's like an existing product, but that doesn't mean that they're 'sheep' or want to 'look cool' or any other such thing.

8 years ago
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Oh I see. I didnt mean the 'sheep' reference for the product buying actually (nobody buys something if they don't like it), the 'sheep' thing was meant about the trust portion, where when there are already alot of buyers, people assume that it is trusted. Also regarding the 'look cool' part, it wasn't about the persons themself being cool if they buy the product, but rather the product being hyped, as in 'looks cool' (sort of like overwatch being hyped) In no way did I want to mean anything about product buying, it was all targeted at the reputation of the product itself, being that more popular (i.e more bought) and better hyped products tend to result in people being less stringent about product research.

Seems that the misunderstanding stemmed from the use of 'sheep' and 'look cool' which were cliches for insulting people on the internet. So sorry if you felt I have insulted you, but I had in no way mean what you had initially thought.

8 years ago
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I wasn't feeling insulted personally. I don't tend to back technology projects.

I get what you're talking about now.

8 years ago
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not informing yourself about or even understanding a product you pay for in advance is an insult for every sheep on this planet.
the phrase" keep it simple stupid " "hits the nail right on the head " for every apple product.
that's why i would never buy one. but i don't condemn people who feel comfortable with it. except its because they want to be cool and fit in.

8 years ago
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The only kick starters I've backed are visual novels. Two of them. 1. Will never be on steam because it's a >_> research game. Though honestly BL needs to come to steam just as much as we need more GL on steam 2. The other is ongoing so it depends.

8 years ago
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crowdfunding is a great thing to support ideas but it can be risky , especialy games.
developers have the general problem that they aren't very good with money so they tend to take too much time and spend too much money .(that's almost the only reason besides PR marketing and distribution for the existence of publishers) because they want to make the greatest possible game they can make ,which gets them lost in the process.
and there surely are a lot of scammers that want to get crowdfunded too.

8 years ago
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Depends for the reasons above written but I think, nowadays, that depends is mostly a "no"

8 years ago
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Crowdfunding done right: Pillars of Eternity
Crowdfunding done wrong: Godus

To be honest, crowdfunding is a perfect example of why investment regulations exist. The average person doesn't have the knowledge or resources to know whether a project is likely to be successful, or whether the promoters are capable of delivering, and there's too much of a chance that the people buying in are going to get fleeced.

8 years ago
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Agreed. Although I'm not sure whether there are any good regulations for crowdfunding that exists, I feel that they should have regulations (or at least have more/better regulations for when a person or company can start a crowdfunding campaign).

8 years ago
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there are no regulations at all.
most countries in the world probably don't have tax laws that apply to them.
who should regulate it? the crowdfunding website?

8 years ago
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Woah, didnt know there weren't regulations at all.

I think the crowdfunding websites regulate it though. Maybe put up some contract-binding agreements, so that if the projects are 100% funded, they have to fulfill their promises or face some form of punishment/fine.

8 years ago
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thats for sure, but its not really regulation more like the crowdfunding company trying to save there own ass from being sued.

8 years ago
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I'm pretty sure there's a warning on kickstarter about that, and it says no one guarantees the project will ever see the light of day.

8 years ago
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But seems like there is no protection for the supporter at all. It feels abit like a "Proceed at your own risk" feel, that nobody really follows xP.

8 years ago
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Well, that's kind of what investing is. Crowdfunding is just a way to invest into something. I personally think it can be a great way for a small team / company to get the money needed, but people that do fund stuff, need to be extremely carefull (just as if you were to invest in a company in "real life")

8 years ago
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almost everyone who has looked into crowdfunding a little bit knows there is no assurance for the backers of a project.

8 years ago
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that's not true. There are regulations. Basically, general laws, such as against fraud & false advertising, apply. The problem is, if a company is duly incorporated, it becomes irrelevant: if the company gets in trouble, it can declare bankruptcy and fold. At least in the U.S., that probably ends right there, although theoretically the top executives/owners can be charged for certain violations.

8 years ago
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Bump. Besides, I just realised that I didn't hear about any cool game on Kickstarter for months now. Last thing I was truely excited about was Battletech from the guys behind late Shadowrun series (not the Chronicles one - that was someone's else) and upcoming Necropolis.

8 years ago*
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Bump

8 years ago
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Bump and meow. I think by using crowdfunding companies are getting people excited about their upcoming products, and they hope those people will tell others about them. This is cheap - maybe even free - advertising.

8 years ago
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it's even better, it's paid advertising.

8 years ago
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8 years ago
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It's better than Steam Greenlight ....

8 years ago
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Crowdfunding is too filled with incompetent entrepreneurs and competent scammers for me to get into it, but it has made some great products possible. But it's more used to advertise upcoming products then actually support their development, and I'm not willing to preorder a prototype that I'm not guaranteed to get.

8 years ago
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I'm against crowdfunding since day one, never supported any of the projects nor would I ask people for money in that way. Whats more I'm making a small platform game in my spare time and I never even thought of doing crowdfunding for it because I hate it and consider it a fraud even if the game you're supporting gets released and it ends up being perfect, because they basically put you in a place of investor who takes the risk, but you don't get share of the profits, you only get your "thank you package" or lose everything.

8 years ago
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that's a valid opinion . but you could make a crowdfunding project and give out shares to your backers.

8 years ago
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Haven't seen anyone do that, that's what I'm saying.

8 years ago
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there could be problems with stock regulation laws and capital gains taxes.

8 years ago
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That was what I thought about crowdfunding too. It feels like other people are taking a risk to help the project get profit.

8 years ago
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Bump

8 years ago
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If it's something due out THIS year, and already has working prototypes up, and you will get it cheaper by KS funding than you would buying it post-launch, and you 100% know you're going to buy it, and you can afford to lose the money and get nothing if it falls apart, then ok maybe. Otherwise, just buy it post-launch. I only KS things like card games, because you can't really screw that up. Games? Electronics? Never. Hell, even metal dice usually never actually ship the results.

8 years ago
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Closed 4 years ago by honestkiddy.