If you’re a frequent Internet user who has looked into the possibility of starting your own project from the ground-up, or contributed to similar entrepreneurial goals of other individuals, then chances are you’ve heard of the term crowdfunding. In general, the word is used to describe a collective effort by involved parties to come up with funding for practically anything: ranging from project finance to good-cause donation efforts. There are many popular websites – including KickStarter and IndieGogo – that specialize in this method of cooperative investing, yet a growing number of people are seeking a way to avoid the fees associated with those sites. Enter Fundify, a crowdfunding theme created by AppThemer that will work on any WordPress site.
Fundify WordPress Theme
To begin with, the Fundify WordPress theme seamlessly integrates with the Easy Digital Downloads e-commerce plugin, which includes the default payment gateways PayPal and Manual (Stripe, PayPal Pro, and PayPal Express can be included as add-ons). The Fundify theme enables crowdsourcing of virtually any idea: music, donations, start-up companies, community raffles, technology, education, etc.
Once a campaign has been created on your WordPress site through the Fundify theme, backers can easily pledge funds toward the project(s) of their choice and subsequently receive rewards in some cases if the originator wants to grant incentives to those who have contributed to his/her idea. By utilizing the PayPal Adaptive Payments extension, pledged amounts are only collected if the project reaches its funding goal within the specified time period.
The Comments section within the Fundify theme allow for interaction between authors and backers, plus there is a front-end submission form for visitors to add new campaigns. If managed correctly, your WordPress site could quickly become a hub for interested parties to submit ideas and avoid the unpopular fees that are charged by other crowdsourcing websites.
A website administrator must manually move a “Pending” campaign into the “Approved” category; granting full webmastering control to the actual crowdfunding website owner.
More On Crowdfunding
According to Wikipedia, crowdfunding “describes the collective effort of individuals who network and pool their money, usually via the Internet, to support efforts initiated by other people or organizations. Crowdfunding is used in support of a wide variety of activities, including disaster relief, citizen journalism, support of artists by fans, political campaigns, startup company funding, motion picture promotion, free software development, inventions development, scientific research, and civic projects.”
Fan Funded currently owns US Patent #7885887 for “methods and apparatuses for financing and marketing a creative work,” yet ArtistShare founder Brian Camelio (who invented the patent) claims that no litigation is pending against sites such as KickStarter.
Wikipedia adds that “the JOBS Act was signed into law by President Obama on April 5, 2012. The U.S. Securities and Exchange Commission has been given approximately 270 days to set forth specific rules and guidelines that enact this legislation, while also ensuring the protection of investors. Some rules have already been proposed by the SEC. The bill went through a number of amendments and on April 5, 2012 President Barack Obama signed the JOBS Act into law. The legislation mandates that funding portals must register with the SEC as well as an applicable self-regulatory organization to operate.”
Fundify Responsive Design
The Fundify theme comes with a fully responsive design which will automatically accommodate the screen sizes of smart phones and tablet computers. This is a huge consideration for website owners who are anticipating an influx of users who are browsing on an iPhone, Blackberry, Android, iPad, iPod Touch or Samsung Galaxy.
The creation of premium and free products for crowdfunding is an exciting concept that could significantly enable project managers in the future; especially those who have proven track records and a wide base of fans/contributors on their virtual Rolodex. We’ll be sure to keep our readers informed on any crowdsourcing progress throughout 2013.
If you would like to find out more about Fundify or download it for your site, visit the Fundify Theme Page.