Crowdfunding is a form of crowdsourcing, where project or organization is directly supported by a large number of people (backers), unlike being sponsored by 1 organization. It provides several advantages e.g. it's easier and less expensive, allows collecting the feedback from the community and sometimes is the only way to fundraise especially for local projects.
It has grown $34B in 2018 with the further expected growth of 35% YoY (even more in asian region). But in 2017-2018 ICO boom made a significant impact on the industry and opened new opportunities for collaborative economy in commercial as well as impact investment. It also led to the creation of global token economies around communities and causes.
Overall we observe the creation of web 3.0 where blockchain and P2P will be used for more disintermediation, freedom and security. So we need new 3.0 version of kickstarters and gofundme where starting and funding would be more transparent, seamless and rewarding. We see the opportunity to tokenize things like ownership or contribution and increase participation, equality and efficiency of the global economies.
That's why we're developing products for decentralized crowdfunding. We have a team of 5 engineers, 2 product managers and 2 marketers and since the start of 2018 we've invested over $100k in this and are in break even. We're supporting the dgov community of more than 150 distributed orgs enthusiast worldwide to research and test the innovative approaches to crowdfunding. Our plans include the further market validation of existent solution (backer dashboard) and prototyping around new ideas.
More on https://crowdfunding3.com/