Crowdfunding, explained by Exploding Kittens

TL;DR

Exploding Kittens used Kickstarter to build a community, not just raise funds.

Transcript

This exploding kitten can explain the truth about crowdfunding. And this one, and this one, and this one. [explosion sound effect] This is all part of a game called Exploding Kittens. If you draw an exploding kitten, you blow up unless you have the right cards. Some cards have special abilities, like Skip and Attack, others are just funny, like the... Read More

Key Insights

• Exploding Kittens started as a simple card game concept, akin to Russian roulette with a deck of cards, and evolved into a massive crowdfunding success.
• The creators of Exploding Kittens initially aimed to raise $10,000 on Kickstarter but ended up raising nearly $9 million, breaking Kickstarter records.
• Despite their success, the creators returned to Kickstarter for their second game, Bears versus Babies, emphasizing community engagement over funding.
• Crowdfunding platforms like Kickstarter present risks, such as trademark issues and the potential for copycats, as experienced by Exploding Kittens and Fidget Cube.
• Kickstarter co-founder Yancey Strickler emphasizes the importance of community and engagement over mere financial backing in crowdfunding projects.
• Exploding Kittens utilized creative reward tiers to engage backers, including interactive challenges and unique product features like a meowing box.
• Trademark challenges arose for Exploding Kittens when someone else registered the trademark during their Kickstarter campaign, highlighting the importance of legal precautions.
• The success of Exploding Kittens illustrates how building a community through crowdfunding can transform a simple idea into a global phenomenon.

Questions & Answers

Q: What is the concept behind the game Exploding Kittens?

Exploding Kittens is a card game that combines elements of Russian roulette and Old Maid. Players draw cards from a deck, and if they draw an exploding kitten card, they are out of the game unless they have a card to defuse it. The game includes various cards with special abilities and humorous elements, making it both strategic and entertaining.

Q: How much money did Exploding Kittens raise on Kickstarter?

Exploding Kittens raised nearly $9 million on Kickstarter, far exceeding their initial goal of $10,000. This remarkable achievement made it one of the most successful crowdfunding campaigns in Kickstarter history, attracting 219,000 backers and setting records for the platform.

Q: Why did the creators of Exploding Kittens return to Kickstarter for their second game?

The creators returned to Kickstarter for their second game, Bears versus Babies, to focus on building a community rather than just raising funds. They valued the engagement and interaction with backers, which they achieved through creative reward tiers and challenges. This strategy emphasized the importance of community in crowdfunding.

Q: What risks are associated with crowdfunding on platforms like Kickstarter?

Crowdfunding on platforms like Kickstarter involves risks such as trademark issues and the potential for copycat products. Exploding Kittens faced a trademark challenge when someone registered their name during the campaign. Similarly, the Fidget Cube encountered copycats that reached the market before their official product, highlighting the need for legal precautions.

Q: How did Exploding Kittens engage their backers during the Kickstarter campaign?

Exploding Kittens engaged their backers through creative reward tiers and interactive challenges. They encouraged backers to participate in activities like creating 3D models or fulfilling humorous challenges, such as '10 Batmans in One Hot Tub.' These efforts fostered a sense of community and excitement around the campaign.

Q: What was the role of Yancey Strickler in the context of Kickstarter?

Yancey Strickler is the co-founder and former CEO of Kickstarter. He emphasizes the importance of building a community and engaging backers in crowdfunding projects. Strickler's philosophy focuses on the 'crowd' aspect of crowdfunding, believing that a strong community is more valuable than just financial backing.

Q: What trademark challenge did Exploding Kittens face during their campaign?

During their Kickstarter campaign, the creators of Exploding Kittens realized they needed to trademark their game's name. Unfortunately, someone else had already registered the trademark, leading to a legal challenge. After a year of legal work, they regained the rights, highlighting the importance of securing trademarks early in the process.

Q: How did Exploding Kittens become a global phenomenon?

Exploding Kittens became a global phenomenon through its successful Kickstarter campaign, which raised nearly $9 million and attracted 219,000 backers. The creators' emphasis on community engagement, creative rewards, and interactive challenges helped build a loyal following. The game's unique concept and humorous elements further contributed to its widespread appeal and commercial success.

Summary & Key Takeaways

• Exploding Kittens began as a simple card game with a unique twist, drawing inspiration from Russian roulette and Old Maid. The creators, including Elan Lee and Matt Inman, turned to Kickstarter to fund their project, initially seeking $10,000 but ultimately raising nearly $9 million, breaking crowdfunding records.

• Despite their initial success, the creators returned to Kickstarter for their second game, Bears versus Babies, focusing on community engagement rather than just funding. They utilized creative reward tiers and interactive challenges to engage backers, demonstrating the importance of building a community in crowdfunding.

• Crowdfunding presents risks, such as trademark issues and copycat products, as seen with Exploding Kittens and Fidget Cube. The creators of Exploding Kittens faced a trademark challenge during their campaign, highlighting the need for legal precautions. However, the success of their campaign underscored the power of community-driven crowdfunding.