While we are not sure if it is the first Kickstarter funded game development project to come to market, Saturday Morning RPG is the first in recent memory to be released. The iOS action RPG which is being released as an ongoing serial (i.e. like a Saturday morning cartoon) successfully managed to raise $10,661. The developers were looking to raise $6,000. The first two episodes launch today.
It will be interesting to see how the public (who didn’t participate in the Kickstarter) receive the game. The App Store page for the game contains mostly positive reviews so far.