Tag: Paypal

Crowdfunding Update: Greed Monger Delivering Refunds To Backers


Greed Monger is a bit of a touchy subject here at MMO Fallout, considering it’s one of the few games that we outright refused to publicize should it ever reappear on Kickstarter, but we have some positive news on the game and its creator Jason Appleton. While Appleton may not have had much success creating video games, as evidenced by the crowdfunding and subsequent fall of Greed Monger, the man does appear to have more of a conscious than your average failed Kickstarter project and a willingness to right past wrongs.

That, and an impressive portfolio of cryptocurrency, because Appleton has taken a step extraordinary for Kickstarter creators and has begun extending refunds out of pocket. Backers have received updates over the past week or so letting them know that they can submit refund requests that will be processed through Paypal (or Bitcoin if that’s your preference). The refunds have started flowing, with Appleton noting that he is limited to $2,000 per day via Paypal restrictions on transfers.

Thank you guys for being patient. Its not easy coming up with 6 figures to repay donations to a passion project. But we are going to get there.

Backers interested in receiving refunds should check out the link below. Appleton took the time to post on Massively’s coverage that this controversy had been weighing on his mind for years and that in retrospect he understands the skepticism of the original campaign.

“As for the Refunds, yes, this has been a plague on my mind for many years and finally being in a position to make it all right has been a huge load off. I truly believed this project could be done. I thought everyone telling me I was crazy for even thinking it to be possible just jealous for having gotten funding from KS. Knowing what I know now, I realize why I was branded as a scammer from before the KS even ended. If I saw me today, trying to Kickstart a similar project , knowing what I know now, I’d think it was a bullshit cash grab too. I was just very ignorant and too trusting.”

(Source: Kickstarter)

Twitch Troll Loses Fifty Grand


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You’ve got to pay the troll toll.

Twitch has opened up new lifelines for online personalities over the past couple of years, with many making a fair amount of their income with those at the top living pretty lavishly off of subscriptions and donations. In fact, the service has become such a platform that one rich individual decided to pull off a hilarious prank only to watch it backfire spectacularly.

The goal of the prank was simple, to donate money to various Twitch streamers in the sum of thousands of dollars only to go back a month later and reverse those charges. You can watch the video below to see the reaction of the people who received donations. Unfortunately when the wealthy individual went to recuperate his donations, Paypal denied all of his claims.

It’s a tough lesson, to be sure.

Paypal Will Not Protect Crowd-Funding Pledges


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Paypal has announced that crowd funding ventures will no longer qualify for payment protection, meaning you’ll no longer have outside help if the wine condoms, cat panties, or that completely legitimate hardcore sandbox MMO run by an MMA manager whose love for video games trumps his complete lack of experience making them doesn’t end up producing a final product.

New terms of service on the Paypal website remove payment protection from activities that include an entry fee and a prize, payments to government services, and payments on crowdfunding platforms:

  • Payments on crowdfunding platforms

The new terms are due to the heavy risks and uncertainties of crowdfunding. Unlike a straight purchase, the user pays to fund a product that may or may not reach fruition. Presumably this change in policy comes following losses incurred by Paypal in reimbursing people who lost out due to unfulfilled crowd funding (and there are a lot).

Back in 2014, Gamerant.com reported that only 37% of video game Kickstarters have fully delivered. MMO Fallout itself has reported on numerous failed projects crowdfunded by thousands only to shut down due to a mixture of incompetence and suspicious behavior.  Earlier this year, development on Ant Simulator shut down amidst allegations by an ex-developer that the money was blown on alcohol and strippers.

Users have until June 25th when the new terms go into effect to shut down their Paypal account if they do not wish to be included.

Check out MMO Fallout’s (somewhat) weekly column Crowdfunding Fraudsters, where we look at bad crowdfunding campaigns to avoid.

(Source: Paypal)