Crowdfunding: How Far Has it Come and Where Will it Go From Here?

crowdfunding

Crowdfunding has been the source of many projects that would otherwise never come to be.  Some of the projects are humanitarian in nature.  Some are virtues of research.  Still others are creative or downright strange.  But the one thing they share in common is that they came into play through the concept of crowdfunding.

Crowdfunding is when a group of people band together to give to a cause for a monetary or emotional pay-off.  It is a way of getting a project done that very well might not happen if not for the efforts of many.

Right up at the top of the list in the most successful crowdfunding projects was the Coolest Cooler.  The extreme cooler is quite large and is pulled behind a vehicle.  It boasts a blender, plenty of storage room, led lighting, ausb charging unit and even Bluetooth speakers.  While the first project launch failed, it was remarketed for crowdfunding using better strategies and was a whopping poster child for the collaborative way of funding a product into existence.

Not all crowdfunding projects are about a product that the participating contributing public will ever personally see.  Another successful endeavor was the Reading Rainbow project which was the goal to make reading material available to all children.  The project would provide books to underfunded classrooms and other such feats.  With the initial goal of $1,000,000, it topped out at $5,408,916.

There are crowdfunding projects for research too.  When the Australian government did away with funding for the Climate Council, a crowd of concerned people stepped in to help refund the project.  One million dollars was raised.

Music and movies have had their share of success in the crowdfunding realm as well.  Pono was a proposed project where music artists would not only share their music, but special editions, live versions and other such touches which would make music listening more soul-felt and spiritual.  It was to be the ultimate listening experience.  The project was a smash and proudly came to be.

On April 12, 2013 the Veronica Mars Movie Project completed their funding with $5,702,153  successfully raised out of a goal of $2,000,000.  Not only was the movie funded, Kickstart backers received a T-shirt that was exclusively given to the supporters.  They also received a special digital version of the movie and other rewards as well.

Waypoint 2 Space is a recent project that took place to fund walking in space.  Kickstarters, many of whom are students,  will be among the first to experience the commercial spaceflight training.

Crowdfunding is growing more and more popular.  Where once seen as suspicious, host sites of good reputation and the success of many projects done by crowdfunding are helping to conquer the fears and to plug the new way of raising money on to greater heights.  Where will crowdfunding go from here?  It seems that the sky may be the limit, literally.