Chess inspired kickstarter

May I ask, what is the definition of "hanging" a piece? If you lose a piece to a fork, does that count? If your piece gets trapped, does that count? If you sacrifice, does that count?

Even if material remains equal - e.g., a trade?

Yes, if you lose a piece you take a shot. In a trade both players take a drink

I was playing that over the board 15 years ago.
It won't work online because people won't really drink.

I would suggest a OTB tournament for this, like the current FIDE worldcup. 128 players in one room playing this should be fun, including live broadcast of course.

How many captured pieces before the game turns into Chess Boxing? :)