Thanks for all the answers so far!
Nathan2222, you are correct, it is not regionally restricted in principle. However, we are limited by the countries that our payment provider (Stripe) supports.
Currently Stripe merchant accounts are available in 17 countries:
This means that you have to be located (or at least have a bank account) in one of these countries to be able to receive money via Stripe.
We definitely encourage developers to have a payable prototype ready (we check and contact every developer upon registration). In fact, right now there are multiple games on the platform that have not yet been made public since they do not have a playable version yet.
It's true that ideas may sound better on paper than in practise and that things can change throughout development. It's a good idea to not go into too much detail when creating a "feature" on gameloop.io for funding to keep all the options open. Also in principle a "feature" can be anything. You can be very specific (e.g. "Add shotgun") or very general ("Create 5 Levels"). In the end all that matters is that you convice players to support it with their money and keep your promise in general, i.e. if you promise a multiplayer mode you should deliver one. But maybe we should emphasize to users that results may vary. We already do explicitly point out that there are always risks during developmet and that the feature may not be finished at all.
I'm skeptical that this would result in games of any appreciable quality.
Of course it's up to the developer to have a coherent vision for the game and he has to decide which ideas are accepted and which ones are rejected alltogether. Ideas on gameloop.io can actually be labeled "rejected" by the developer (including an explanation as to why). The developer has complete control over which "features" he creates and it's up to him whether he accepts suggestions from players or not.
Naturally you could argue that people will get upset when they can post suggestions but the developers just ignores them. If the developer is just not interested in player feedback in general he shouldn't use gameloop.io. On the other hand, if instead he just doesn't want people to post new ideas, but still have them vote and discuss his own, and fund his features, we are planning on allowing developers to disable the posting of ideas through users. This may also be useful for other scenarious when the developer temporarily just doesn't want new ideas to be created.
As a crowdfund-er (is that the right word?), what do I get from having a feature implemented? It's not a complete game. It's a tiny segment, and most likely you can't just plug it in into a larger module without requiring modification. "I just spent $5 to fund a feature, but you can't play it just yet! How exciting!"
Of course this wildly variable and depends on the payment model of the game. What the players get in return is up to the developer. For example you could do a similar thing to Steam Early Access, where there's a playable prototype and people who fund the alpha version (which could be a "feature" in terms of gameloop.io) get that version as a reward, while other people have to pay for it (presumably at a higher price).
Or maybe it's a free to play game that has ambitious goals. Players who fund the feature get unique ingame items or virtual currency. Obviously there are many different scenarious, and it remains to be seen how and if this concept works out. We won't know for sure until someone tries.
Some of the developers we are talking to right now have free to play games. At the upcoming GDC Europe / Respawn and GamesCom in Germany we will personally meet several smaller and larger professional game developers that expressed interest and hopefully can convince some of them to put their games on our platform.
I like the idea of voting for features, but I don't think users should direct their funds to the idea. Any money pledged is just pledged to the whole project.
I suppose the developer could simply create a "feature" called "version X.Y" to direct funds at general further development of the game.