After raising $1 million on Kickstarter, Technical Illusions/CastAR received an investment from Andy Rubin's Playground Global. CastAR later announced that they would refund Kickstarter backers' money and give everyone who backed at a level that would give them a pair of CastAR glasses a voucher for the retail CastAR glasses, whenever they released. Somewhere along the way, CastAR also changed course from "AR glasses tethered to a computer/phone" to "standalone AR glasses." Then they acquired Eat Sleep Play, a game studio in Salt Lake City. Then they went bankrupt.
Instead of releasing a product (even a rough, beta-quality product!) for their Kickstarter backers and iterating from there to a retail-quality product, it seems they took their VC money and went straight for a moonshot standalone product with first-party games available out of the gate. The moonshot was expensive, Playground Global declined to invest further, and here we are.