A NFC ring does seem like an interesting project, with some useful applications. I may back the project. However, the project is only aiming to raise £30,000.

A NFC ring does seem like an interesting project, with some useful applications. I may back the project. However, the project is only aiming to raise £30,000. Not saying it isn't a significant amount of money but with backers like Matt Mullenweg (according to a comment here), surely they can bankroll that themselves? I know starting up production is expensive and the MOQ is prohibitive. £30k is not that much money to start manufacturing, distribution, testing and so forth. The kickstarter seems to me to be essentially just validating that there is a market for a NFC ring. The "what are we raising funds for" section also states different things, the video says MOQ is 100k (x2), while the text says 10k. It seems to me that if it is the former of the two, £30,000 is not going to get them very far. And, the company spent $8000[1] on an advert[2]. $8000 (~£5.2k) is quite a significant portion of those £30,000 they want. Lastly, shipping in September 2013 kind of suggests that they are about to start production/already started production. Either they are expecting to raise way more than £30,000 or it is just an additional way to advertise the product and build hype. Nothing wrong with that per se, and the backers do get the ring at a discount, but I am personally not that willing to back them just for them to get extra publicity. [1] http://www.reddit.com/r/Entrepreneur/comments/1ip44s/spent_8000_on_a_marketing_video_for_my_product/ http://www.reddit.com/r/Entrepreneur/comments/1ip44s/spent_8... [2] https://www.youtube.com/watch?v=bqvQ0pZhEBY https://www.youtube.com/watch?v=bqvQ0pZhEBY