Aww that's a shame. The annoucements are kind of confusing too. It sounds like drip itself was created by Kickstarter as a sister company, to compete with Patreon (basically), and the project that was done with XOXO was something that... they couldn't make it viable financially or some such excuse.
From my quick skim of the articles, the site only lasted a year? That's nuts. Maybe because it was invitation only to artists/creators?