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The crowdfunding site Kickstarter, a resource for creative-types seeking financing for their endeavors, announced some major changes to the service Tuesday. The new rules could open the floodgates for various new projects—and potentially result in more undelivered promises.
Since its launch in 2009, Kickstarter has funded more than 63,000 projects, with more than six million backers pledging nearly $1.15 billion to date, according to the company’s official statistics. Prior to the rule change, Kickstarter had been approving approximately 78 percent of new campaigns, 44 percent of which have been fully funded, reports The Verge.
The changes are aimed at simplifying the terms of service (which have been shortened from about 1,000 words to fewer than 300), allowing certain previously banned products onto the platform and streamlining the campaign approval process by enabling creators to bypass the company’s “Community Manager” facilitation requirement if they wish.
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