The term ‘crowdfunding’ is a relatively new term, which describes the fundraising effort of individuals, who pool their resources by contributing small or large amounts to assist another person or organization achieve a set financial goal, by a set date, for a particular project or purpose.
Usually ‘rewards’ are offered by the organizer to donor participants, sometimes in the form of experiences that relate to the project, or actual gifts, which are posted to the donor. So the platform is not charity but an exchange of benefits, one of which is the rather intangible satisfaction gained by working with others to achieve a common goal .
Unless the donor requests anonymity, he or she is acknowledged as a supporter. The platform could also appeal to businesses or groups, which would like that recognition.
Crowdfunding can be used as the major source of funding for a particular goal or may be used in conjunction with other government, self or philanthropical funding. It is usual for organizers to contribute funds themselves, but sometimes they are unable to do so and rely solely on the support of others, who see the potential of the idea and have faith in the person’s ability to see the project through to its conclusion.
The concept relies heavily on the internet and on the use of social media. Isn’t it wonderful how one can connect almost instantly with ‘cyber friends’ with the swift click of a mouse?
A new arts crowdfunding platform in Australia is 'Pozible'. North Queensland tropical artists, through Art in Tropical Australia, have chosen Pozible as a means of raising funds for a new project to promote the arts and artists of the region.
The first stage of the project (October 2012) is to bring a professional team to film Port Douglas artists in their, often scenically beautiful, studio hideaways and to air the resultant ‘Put Some Colour in Your Life’ videos on National Australian television (Channel 74) and internationally.
second stage, which is dependent upon the success of the first, was planned for June 2013 and was to involve six or more artists from the
wider region. Glass artist Ola Hoglund, painter Yoshiko Kirby, textile
artist Linda Jackson and master print-maker, Theo Tremblay were amongst
those chosen for Stage 2. Unfortunately the expense involved precluded that from happening.
...Unfortunately, for our Pozible project we did not reach our goal, so pledges and rewards were cancelled. But we had wonderful support and have learned heaps so will, no doubt, try this novel way of fundraising for future projects.
Thank you so much to all those generous people who offered help. The project still went ahead (2 - 8 November) and artists met all major expenses themselves.