The explosion of digital technology that began with the internet has changed our lives and the fortunes of many by providing new opportunities for making money. Creators in various fields like artists, musicians, photographers, filmmakers, technical innovators, and others had always found it difficult to fund their projects. All this changed drastically as the internet opened new funding avenues for the creators by crowdfunding. Crowdfunding platforms connect fundraisers to the public directly to fund the project. Creators who need funds to convert their innovative ideas into viable projects can now access funds by choosing Kickstarter crowdfunding.
Kickstart is different from other crowdfunding platforms in its vision and mission, focusing on creativity and not the business. For creators who want to give life to their creative ideas, Kickstarter can be the place to look for funds.
More about Kickstarter crowdfunding
Creators are at one end of the Kickstarter platform, and the backers are at the other end. Creators showcase their projects on the platform to attract backers interested in the project. If backers find any project interesting enough and ready to support it, they can pledge some amount for it. The platform provides the ground for creators meeting backers, but it is not a marketplace where sellers meet buyers. Despite having many things in common with the eCommerce platforms in the features of facilitating the meeting between two parties, the objectives of the crowdfunding platforms are entirely different.
The working methodology of Kickstarter
Launching a Kickstarter campaign allows creators to display their projects on the platform by highlighting the details and prototypes with the help of text, images, and videos. They need you to use some marketing techniques so that their display gains visibility and attracts backers. Moreover, the content must be informative and attractive to grab backers’ attention. The two most important pieces of information are the funding goal and project deadline. Additionally, creators set reward levels for backers according to the pledged amount, and higher amounts call for higher rewards.
On achieving the funding goal, creators can start the project to develop and produce their vision. However, backers must wait until the completion of the project to get their rewards, which can often take a long time, and the wait is significantly longer if the reward is the finished product.
Empowering creators and backers
Creators and backers get much more from the Kickstarter platform than merely involving in fundraising activities. The platform provides better opportunities for creators to connect directly with their communities. Creators have access to more tools to give life to all kinds and sizes of creative projects. The platform makes it easy for backers to discover their passion projects and participate in the projects more deeply. They have more robust tools at their disposal to assess the viability and trustworthiness of a project.
The platform makers are continuously working towards developing a decentralized crowdfunding protocol that gives more options to people. The platform’s exclusive focus is on creativity as it tries to support people to launch and fund projects regardless of their location by using any similar platform.
The infrastructure of the platform
The platform’s infrastructure consists of protocols similar to the internet, like the HTTP protocol that facilitates browsing, SMTP protocol that enables sending email, and other similar protocols. The protocols manifest on a public blockchain that is open-source and accessible to collaborators, independent contributors, and competitors worldwide to connect, use or build upon. The platform’s openness helps it gather strength as more people interested in crowdfunding come forward to enrich the platform. They not only help to build a better future but can also have stakes and a say in how it works. It is a reason why the platform represents blockchain crowdfunding.
Providing a level playing field for all
The platform protects the interest of creators and backers in equal measures. Creators can collect their funds only to meet the targeted amount within the given deadline. If the funds fall short of the target within the deadline, it becomes a no-deal, and no money changes hands.
This aspect of Kickstarter crowdfunding minimizes risks because deliverables matter most. Next time, projects that don’t deliver results to backers must try their luck.
