Crowdfunding sites like Kickstarter and IndieGogo are letting designers and other creative people connect with audiences who want to finance their dreams, and they are becoming increasingly popular. Nearly three million people have helped a total of 30,000 projects meet their fund-raising goals on Kickstarter, the largest such site, to the tune of $300 million in pledges.
But for the creators of these projects, getting the money is sometimes the easy part. They then have to turn their dreams into reality, with a crowd keeping an eye on their progress.
This new model comes with a host of potential pitfalls that are often difficult for project creators to anticipate, and hard for the armchair philanthropists who back them to grasp. Backers are essentially putting their trust in the project creators, giving them cash in return for the promise of a future reward.
Have an amazing project to share? Join the SHOW-AND-TELL every Wednesday night at 7:30pm ET on Google+ Hangouts.
Join us every Wednesday night at 8pm ET for Ask an Engineer!
Learn resistor values with Mho’s Resistance or get the best electronics calculator for engineers “Circuit Playground” – Adafruit’s Apps!
Maker Business — Kickstarter’s “12 Tips on Shipping Rewards”
Wearables — Diffuse the glow
Electronics — Check out this shorthand shortcut
Biohacking — Testing for Fat Burning at the Colorado 200
No comments yet.
Sorry, the comment form is closed at this time.