Crowdfunding, the Statue of Liberty and the Future of Finance
Crowdfunding is booming. The industry has come a long way since the first crowdfunding projects surfaced a few years ago. Going forward, crowdfunding is likely to take on many forms, expand globally and become the preferred model for investment. Given the recent surge in its activity and popularity, here is a quick beginner’s guide discussing the origins and different types of crowdfunding platforms available for investment today. What Is Crowdfunding? Crowdfunding is the pooling of resources to create or maintain an initiative from a large number of backers—the “crowd.” Projects supported through crowdfunding, usually online by means of a web platform, can range from nonprofit or charity organizations, political campaigns, creative projects (i.e.- supporting an artist, gallery, director, film etc.) or a financing campaign to fund a startup company. The Oxford dictionary definition for crowdfunding reads: [Noun] The practice of funding a project or venture by raising many small amounts of money from a large number of people, typically via the Internet. History of Crowdfunding Crowdfunding has a long and rich history with roots going back hundreds of years. Crowdfunding originates in the concept of crowdsourcing,...
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