Anyway, seeing as how the primary of this website is so that you can raise money for your game, you're probably just a little interested in how you'll go about receiving said money and what's in it for us.
If you're at all familiar with other crowdfunding websites you should know that there is typically a percentage fee involved with working with them and their community. This nominal fee helps pay for things like hosting, web development and of course food and rent, so we can both eat and live.
8-Bit Funding will operate in a similar manner. Currently, in the beginning, we will use PayPal exclusively as a means to accept payments. I can hear your collective groans now. Unfortunately, as a start-up PayPal just makes it way easier for us to get up and running really fast. As soon as we are able we plan to add additional payment methods including direct credit card payments.
Here are the fees we will be charging initially:
- 5% of the total contributions will be charged by us.
- 2.9% + $0.30 of each transaction will be kept by PayPal.
You'll recognize these figures as being the exact same as the ones offered by Kickstarter. After much pondering and debating, we decided to follow in their footsteps given their obvious success. Although they use Amazon and not PayPal, Amazon charges the same 2.9% + $0.30 transaction fee.
Where we will differ from Kickstarter is in their mantra of "all or nothing funding." On Kickstarter if you don't meet your goal, you don't get any money. Personally, I don't like this method, especially when workng with relative abstracts like game development. Just because you could only raise $700 instead of $1000 doesn't mean you won't be able to complete your project.
As such, upon completion of your project, no matter if you have reached your goal or not, we will release what funds you have raised to you. In order to encourage people to not abuse the system however, for all projects that have not reached their funding goal we will be retaining a 10% fee, in addition to PayPal's fees.
Finally, when it comes time to deliver the money we plan on offering two ways to receive your money:
- PayPal instant transaction.
- Check, if you live in the USA.
PayPal will be the defacto payment for international projects.
Upon completion of your project, we will email you to confirm your project and payment. From there you should have the money in your PayPal account within a couple business days. If you request a check, your check will be mailed out within a couple business days (allow up to a week for delivery).
I hope this has been informative. We plan on reviewing all payment fees and methods moving forward to best adapt to both our project starters and our project funders. If we come across a better plan, idea, etc. we will most certainly implement it as soon as possible.