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Crowdfunding - Financing For a 21st Century Europe
Crowdfunding is a relatively new concept in which a project is posted on a website, and people pledge to support the project. While the idea of crowdfunding goes back centuries, the modern version began in 2000 when ArtistShare launched; giving musicians a chance to have fans fund their recording dreams.
What is crowdfunding?
Crowdfunding has a variety of applications. It is used in tech industries for software development and app launches; by the movie industry for funding indie movies; by the music industry for artists to finish that long-awaited album; and by individuals for funding social projects like disaster relief, community projects, or launching political campaigns. The flexibility of being able to take donations from anyone at almost any amount means many people can participate and contribute to making the project a success.
How does it work?
Some are all-or-nothing campaigns, while others allow users to keep what they are able to collect, even if they do not get the project fully funded. ...Contd..