News for hackers. Stuff that matters.

A comment on Minecraft creator says he’s canceled talks for Oculus Rift version. Parent comment

Re:Minecraft creator says he’s canceled talks for Oculus Rif... by ycaspirant on Tuesday March 25, 2014 @08:26PM (#7470514)
The terms of funding on Kickstarter are pretty clear and straightforward. You back a project for a certain amount of money in exchange for a promised reward (this reward is never equity). When the time comes you either get your reward or you get your money back. Simple as that.
[ Parent | on HN ]
Re:Minecraft creator says he’s canceled talks for Oculus Rif... by jessaustin on Wednesday March 26, 2014 @01:03PM (#7474729)
...or you get your money back.

Has this ever happened? I was under the impression that the funds raised through Kickstarter are spent on the kickstarted projects. If after spending the money, the project "fails", how can there be a refund?

[ Parent | on HN ]