Crowdfunded Meaning: Definition, Examples, and Translations

Technology

• Websites like Kickstarter and Indiegogo have revolutionized how people can fund projects, changing the landscape of entrepreneurship.
• Crowdfunding has facilitated over $34 billion in funding worldwide across various sectors, including technology, arts, and nonprofit causes.
• Crowdsourcing platforms allow individuals to raise money quickly and without a formal investor, democratizing the funding process.

Pop Culture

• Several blockbuster films were funded through crowdfunding campaigns, engaging fans in the production process.
• Video games like 'Shovel Knight' were initially financed by crowdfunding, showcasing the potential of community-supported productions.
• Celebrity-led crowdfunding campaigns have further popularized the concept, drawing significant public interest and participation.

Economics

• Crowdfunding can serve as an alternative to traditional loans or venture capital, allowing entrepreneurs to bypass traditional finance.
• Data suggests crowdfunding can lead to higher levels of community engagement and support for funded projects, bolstering local economies.
• It provides a platform for innovative ideas that may struggle to gain interest from conventional investors.

Social Impact

• Many social causes and disaster relief efforts have successfully leveraged crowdfunding to gather aid quickly and efficiently.
• Crowdfunding can help amplify voices and projects from underrepresented communities, allowing them access to necessary funding.
• The community aspect of crowdfunding fosters a sense of collective ownership and pride in funded projects.

Main points about word origin

• The word 'crowdfunding' combines 'crowd' and 'funding,' highlighting the collaborative nature of gathering money.
• The term gained popularity in the early 2000s with the rise of the Internet, representing a shift from traditional funding methods.
• Similar concepts existed in history, such as community-funded monuments, but modern crowdfunding is largely driven by digital platforms.

The term 'crowdfunded' originated in the early 2000s, evolving from the combination of 'crowd' and 'funding'. 'Crowd' refers to a large group of individuals, emphasizing the collective aspect of support, while 'funding' denotes the provision of monetary resources. The rise of the internet and social media platforms facilitated the growth of this concept, allowing entrepreneurs, artists, and creators to seek financial backing directly from the public. The first major crowdfunding platforms, like Kickstarter and Indiegogo, were launched in the late 2000s, leading to a significant increase in the popularity of crowdfunded projects. Over time, this method has transformed the traditional financing landscape, enabling various initiatives—from startups to philanthropic causes—to thrive through communal financial support. The phenomenon has also prompted discussions on the ethics and efficacy of crowdfunding, as well as its impact on the traditional investment models.