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What Is The Next Crowdfunding Evolution?

It’s been said that crowdfunding is less of a straight-forward investment and more like buying wine futures. You’re essentially paying a discounted rate for next year’s crop. And, just like wine, once you’ve put your money in, you can only hope that the weather is good, the vines aren’t attacked by bugs, and the vintner is as good as he claims. But, this analogy, no matter how clever, falls apart at one crucial stage. With wine, there is already a predetermined market, distribution channels and product awareness. People may not have heard of “Bobby Joe’s Blackberry Pumpkin Chardonnay” but they do know wine exists and they generally know where to find it. This is not the case, though, when it comes to crowdfunded projects. For instance, Erik Chevalier’s crowdfunding campaign for the old-fashioned board game, The Doom That Came to Atlantic City, was a huge success, raising nearly $88,000 more than its target of $35,000. But, despite that infusion of capital, the game never launched. According to Chevealier, “Every possible mistake was made, some due to my inexperience in board game publishing, others due to ego conflicts, legal issues and technical complications.” Chevalier’s tale of woe (it gets much worse […]

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