Kickstarter

Definition

Kickstarter is a crowdfunding platform that allows creators to raise funds for their projects by collecting small contributions from a large number of people. It has revolutionized how artists, designers, and entrepreneurs can finance their ideas, making it easier for them to bring creative projects to life without relying solely on traditional funding sources like banks or investors.

5 Must Know Facts For Your Next Test

1. Kickstarter was founded in 2009 and has since helped fund over 200,000 projects, raising billions of dollars from backers around the world.
2. Projects on Kickstarter are typically categorized into various fields such as art, design, technology, and games, allowing creators to reach their target audiences effectively.
3. To successfully fund a project on Kickstarter, creators must set a specific funding goal and a deadline; if they do not reach the goal by the deadline, no funds are collected.
4. Backers often receive rewards that can include early access to products, exclusive merchandise, or unique experiences depending on the level of their contribution.
5. The platform has gained popularity among digital media artists as it provides an avenue for them to launch innovative projects that might not receive support through traditional channels.

Review Questions

• How does Kickstarter facilitate the process of funding creative projects compared to traditional methods?
  • Kickstarter enables creators to bypass traditional funding methods like banks or investors by allowing them to reach out directly to potential supporters. This crowdfunding approach lets artists and entrepreneurs present their projects to a global audience, tapping into people's willingness to contribute small amounts in exchange for rewards. By using a clear funding goal and deadline, creators can effectively gauge interest and secure funds needed to bring their projects to life.
• Evaluate the advantages and challenges that creators face when using Kickstarter for their projects.
  • Creators benefit from Kickstarter by accessing a broad audience willing to support innovative ideas without giving up equity or taking on debt. However, challenges include the need for effective marketing and communication strategies to stand out in a crowded marketplace. Additionally, if a project fails to meet its funding goal, creators do not receive any funds at all, which can be disheartening after investing time and resources into the campaign.
• Assess the impact of Kickstarter on the landscape of digital media art creation and funding opportunities in recent years.
  • Kickstarter has significantly transformed how digital media artists fund their projects by providing an alternative means to secure financing without relying solely on traditional grants or investors. This shift has empowered a diverse range of artists to pursue innovative ideas that might have otherwise been overlooked. Furthermore, the platform fosters community engagement by connecting creators with backers who share similar interests, ultimately enriching the creative landscape and encouraging collaboration across different fields within digital media art.

Related terms

Crowdfunding: A method of raising capital through the collective efforts of a large number of individuals, typically via online platforms.

Backer: An individual who supports a project on Kickstarter by pledging money, often in exchange for rewards based on their contribution level.

Reward-based funding: A type of crowdfunding where contributors receive non-financial rewards, such as products or experiences, instead of equity or returns on investment.