The invention of crowdfunding was credited to the Marillion, a British Rock Band who solicited small donations from many people via the Internet. In 1997, the band collected $60,000 from their fans through an online fundraising drive for them to go on a U.S. Tour. Experts highly emphasized though that the idea for a system of giving money to people is not the same with the traditional bank loans during the 1970s.
Some Must-Knows About Crowdfunding
Artistshare – This is the first website meant solely to crowdfunding. It launched its very first project in 2003. It is through this site that musicians can ask their fans to finance their albums. By 2012, Massolutions said that there were already 452 crowdfunding websites.
Kickstarter – This is the most popular crowdfunding site that processed pledges totaling to more than $1 billion since 2009. Projects that are funded via this site must create something to share with others. In other words, the site does not permit campaigns that are solely intended to raise funds for social causes or charities.
Project For Star Citizen – This video game is the largest crowdfunded project that raised $44 million. The largest charitable campaign, on the other hand, was Kony 2012 which was operated by Invisible Children in order to help stop warlord Joseph Kony. $4.8 million was raised for this project.
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