No Risk, No Reward

Now that we're in the final countdown before the Kickstarter campaign launches, I thought it might be fun to share a little more information about this unique crowd-funding platform.

Each Kickstarter campaign sets a timeframe, a funding goal and a series of reward levels. Backers make pledges, but they are only charged if the entire funding goal is met. This means that if a project is aiming to raise $5,000 but only receives $4,000 in pledges by the end of the allotted time, no backers are charged and the project receives $0. If, however, the same project were to receive $8,000 in pledges, the creators get to collect all of the funds that have been pledged - and since they raised more than their target goal, they may even be able to offer a bigger/better/fancier version of the project than they initially planned.

When someone backs a Kickstarter project, that person is saying, in essence, "I want to see this kind of work enter the world." Crowd-funding platforms are unique because they help creators raise invaluable seed capital while simultaneously building a supportive community of backers and fans who are invested in seeing the project succeed. 

I like the fact that Kickstarter has huge stakes. Projects either fund or they don't; there is no grey area. While it is terrifying to toss The Hive into the ring alongside so many other brilliant film/food/community/design/art/music/writing projects, I am very excited to see where its journey takes it. Our campaign offers rewards for backers who can pledge $1 - $1000; most of the rewards are memberships to The Hive since our hope is to cultivate a broad base of local supporters.

As I've been saying all along, this isn't a small project. It's a big, ambitious, what-would-you-do-if-you-could-do-anything kind of project. I hope you'll come along for the ride.

 

Kickstarter's goal is to help people bring creative, independently financed projects to life. Learn more about Kickstarter's mission here.