Digital crowdfunding opens the door to the world's leading ideas and fan's desires
Have you ever conceived that great idea? The vision for something which could change the world? A truly original concept to solve a problem? There are undoubtedly thousands, if not millions, of us who could solve everyday issues with our own creativity (and who knows even make it available to others) if only we had the financial resources at our disposal. Well, in today’s digital world this isn’t quite the barrier it once was to our ideas becoming reality.
Whilst not strictly a physical product or service, I recently stumbled across what may be the most impressive socially funded project yet. Through the leading social funding platform, Kickstarter, the classic teen drama “Veronica Mars” is being realised into a feature length film. With no budget at the disposal of the cast and crew, the collective took to Kickstarter looking for funding. With the aim of reaching a goal of $2,000,000, the bar was set high, but within 36 hours, they had smashed the goal. Currently, the pot is sitting at $4,528,665 and growing by the day…driven by the online fans, 67,53 of them to be precise!
OK, so it helps if you’re got some famous names like Kristen Bell and a tongue-in-cheek viral video to help drive awareness and funding, but the principles employed here could be translated onto any number of projects.
As with many Kickstarter campaigns, the key is in the reward and the tiered funding options – donate “X” and you’ll receive “Y”. This social reward system, whilst financial, sits at the heart of all campaigns and always ties back to the product itself. This isn’t about getting a share of the company or being involved in strategic decisions; it’s about a passion for what someone else wants to create.
This digital evolution can only be a good thing: from products to services, even the little guy can get in on the act and make their idea a reality. Combine this with the ever growing popularity of 3D printing and you’ve got an affordable prototyping layer too.
Dragons’ Den, you’ve met your match! It seems that with the right tools and social platforms, people are willing to invest just to get the product which matters to them, not to get the financial rewards from the creators’ success.
More information on Kickstarter can be found on their website
For more information on the “Veronica Mars” project, check this out.
This post initially appeared on the 3 Monkeys website, drafted by Felix Hemsley, Digital Account Director