Many inspirations and project ideas come to life through funding from crowdfunding platforms. With pioneers in the crowdfunding areas such as Kickstarters, the platform is gaining more momentum as many people are becoming part of it. Here are some statistics that show the growth of crowdfunding platform in recent years,
The global crowdfunding platform was valued at $84 billion as of 2018 and it is expected to grow to $114 billion by 2021.
Crowdfunding platforms are expected to reach 47% growth in the Asia-Pacific region.
The year over year the growth rate is estimated at 30.89% for the crowdfunding platforms market, according to Technavio reports.
Kickstarter works on 4 key value propositions, entrepreneurs can deploy their own Fundraise clone if they understand Kickstarter better.
More sponsors: When people post their project ideas, it has reached out to a wide audience, so that they can get the campaign amount that they need. Kickstarter allows anybody to become the sponsor of the events irrespective of their background. As it is not defined as a specific group range more people can become part of it.
Authenticity verification: Kickstarter has an “algorithm initial scanner” to check if the project is genuine. There is an increase in the number of fraud reports so the scanner ensures that the project idea is authentic. It reduces the numbers of fake listings in the site, which in turn increases the sponsors for the site.
Convenience: The Kickstarter has both iOS and Android apps. Customers are offered more options as they can use Kickstarter in the personnel device of their choice. Kickstarter has features and functionality that offer a user-centric experience for its stakeholders.