Hailed as the new way to bankroll
huge projects, crowdfunding is here, it’s larger than life and I find it
fascinating. Oliver Rawlings readers, crowdfunding is the future.
The Relationship between Culture and Technology
As any reader of this blog can
attest to, I find culture and technology fascinating. Two of my life long
passions, I never miss an opportunity to blog about these two complex subjects,
and I’m the sort of person who can’t resist reading about them either. It’s
practically an addiction!
That’s why I find it riveting
when the two come together. We live in a world driven by technological
advances. New technology is practically the muse of the 21st Century,
spurring creative types to greater heights and inspiring truly post-modern
works of art that would have been impossible to achieve without the aid of
modern technologies such as the internet, laptops, smartphones etc.
What is Crowdfunding? How Does It Work?
That’s why I find crowdfunding
fascinating. Crowdfunding is where someone raises money for a subject by going
to many individual donors, and asking each one to donate a small amount of
money, often in return for a gift, but no actual share in the profits the project
generates.
So how is this possible? Well the
artist sets up a donation page on a crowdfunding website, such as Indiegogo,
makes their pitch and people log on and donate. The fact that the internet
enables anyone to donate means that niche projects that wouldn’t have otherwise
gotten off the ground, due to lack of interest, are able to go into production.
Why, because those people who
want to see it happen are able to help it do so without the larger
considerations that often way fund providers down, such as profit margins,
advertising interest and the ability of the project to secure interest from key
demographics.
A More Direct Input into the Artworks that Define Our Culture
In essence, crowdfunding is a way
to bypass the usual funding avenues that artistic projects must travel down,
and it broadens the scope of culture openly available to the masses. The genius
of crowdfunding is that not only does it provide the cash, it builds up a fan
base for the project to speak to once it’s finished; people who have watched it grow from
conception and have tracked it through to completion. It provides a personal
attachment to art that we’ve never seen before.