Right at this very moment, there is absolutely no system that will allow the Founders to work as a team... except Fundition.
Founders or backers? Even with a small contribution you will be rewarded for your cooperation.
Crowdfunding isn’t a new way to make fundraise, but thanks to the technology there were huge innovations in the crowdfunding industry. Now thanks to the innovation, entrepreneurs, Founders, dreamers are able to have a new way to find funds and make huge advancement in their projects. The fundraisers don’t have to waste time to think about the funds and the investors anymore. Thus, they can entirely dedicate their times to the creation and building of their projects. Crowdfunding is a way for the Founders and the investors to have no middleman between the two parties.
The innovation lays in the fact that there is no need for an intermediate anymore. For the past few years the crowdfunding has taken off and has an incredible growth, so the question is: « Will it continue to grow or will it start to weaken »? Also the numbers of platforms did increased a lot over the years, with 344 platforms based in the United States, 53 in France, 87 in the United Kingdom, 34 in Canada, 10 in India, 1 in China, just to name a few one. These numbers are showing that crowdfunding platforms are still lacking, thus the need to create new ones.
The crowdfunding didn’t start with the emergence of the crowdfunding platforms, it was actually born a long time ago. For example, the Eiffel Tower (1887) and the Statue of Liberty (1886) were crowdfunding projects. As of the crowdfunding on internet, it started in the early 2000. There was no platform at the time and the initiative to raise funds thanks to the crowd was made by Founders. At the time, the Founders had to start their on crowdfunding websites, with nobody to give them tips on how to attract Backers.
There were always Founders, inventors, geniuses through the history of the humanity. Some did actually create, but for some it started with an idea and it stayed just an idea. Most of the time great ideas stay ideas due to the lack of funding as its sufficient funding that enable ideas to become products and projects. History shows us that it’s the Founders that innovate while the holders of the capital take the idea and earn the large profits leaving the Founders with little return on their idea. When partnering with investors the creatives have to meet targets set by the investors under strict guidelines and contracts, often the investors require the creative to provide reports and results which suffocates creativity.
Results driven projects often fail because the creative feels like they are working for someone else rather than themselves. All creatives understand that through the development of the idea that other opportunities and paths are discovered which often lead to better products and projects, however the investor wants a fast return on their investment, leaving the developer no option than to close off innovation to meet the targets set by the investor.
While traditional investment models still flourish, crowdfunding platforms have genuinely changed the ecosystem of giving over the past two decades, particularly for smaller players in the marketplace. A myriad of crowdfunding platforms have begun to supplant or at times, even displace the traditional investor, with public donation levels reaching more than 16 billion dollars (worldwide crowdfunding total) in 2017.
Since 2010, startups have witnessed a dramatic change in the way they raise their seed funding, leaning towards the decentralization and diversification that happen as a result of public financing. In other words, risk capital is beginning to lose its position as the primary method of financing startups. Instead, crowdfunding has an increasing ability to mobilize capital at a faster pace.
From 2015 to 2017 many countries have seen more than 900% growth in alternative funding, confirming that crowdfunding is both sustainable and required for todayʼs hyper-connected society. Crowdfunding platforms that utilize the traditional internet have enabled millions of individual funders to participate in the success of projects. The traffic on the three largest platforms has reached an astronomical 182 million monthly visitors, and increasing every day.
Crowdfunding projects have generated billions of dollars in recent years, filling up the pockets of investors and shareholders at large corporations. Such centralized platforms continue to elicit enormous fees for minimal service, despite failing to innovate on behalf of their constituents—the founders. Crowdfunding platforms today look almost identical to their ancestors of 15 years ago. At Fundition, our goal is not to eliminate these centralized platforms; they have changed the landscape for founders. Instead, our goal is to improve on their model, and bring more value to all stakeholders, whether backers or founders; eliminating the middleman.
The current ecosystem of crowdfunding platform serves to hinder projects in various ways. One current platform puts great pressure on founders, only “allowing” a project to be funded if it reaches a target amount before an arbitrary deadline; if the founder doesn’t reach his/her goal, their project receives nothing, despite countless hours of effort on all sides. A satellite problem—as a result of this flawed model—is that many founders ask for much less than they require for a successful project, hoping to reach their target before time runs out.
Another challenge for all major crowdfunding platforms is broken promises. The current method of crowdfunding generally offers no protection to backers. After backers give to a project, founders often fail to deliver on the sacred promise they made to their all-important funders. Sometimes, these founders disappear. Other times, the product they deliver is not what they had initially promised.
Current platforms also have an unintentional bias towards larger-scale projects. For example, if founders launch a campaign with certain platforms, they are required to reside within the application country. This leads to a mountain of paperwork, and deters smaller-scale founders from even attempting the project; unwilling to satisfy the legal or financial restrictions imposed by the platform.· 5-16% fees on the platform.
· A further 3-8% for the processing payment.
· Cost of rewards for the financial backers.
On traditional crowdfunding platforms, founders normally only receive 60 to 80% of the funds they have raised. Fundition changes that.
Each traditional crowdfunding platform collects fees on projects, for (only) the use of their platform and software. They rarely provide technical assistance, but collect a substantial percentage of the project’s funding. Fundition is different; we DO NOT take a fee. How are we able to do this? We rely on our own Proof of Merit system (see below), which runs on the Steem blockchain, and does not ever cost a single cent for the founder.
In addition to the fees paid to each traditional crowdfunding corporation, founders must pay substantial taxes to the centralized government’s tax office within which their project is geolocated. BECAUSE OF A LACK OF PROPER GUIDANCE from traditional crowdfunding companies, founders often ask for too little funding to cover both costs and taxes. This results in still more broken promises for backers, and failed projects for founders.
Centralized crowdfunding platforms are traditionally focused on the management and decision-making of a centralized executive team. Within this rigid system, information trickles down from top managers to various arms of the business, without a lean approach to innovation.
The decentralized organizational structure consists of manifold small executive units, all operating in harmony. This allows for close-knit chains of command, and tight testing and feedback loops, allowing for growth mindset and rapid innovation. This is the model for Fundition, as we believe that short-cycle change is what founders require in the coming generations.
A decentralized approach to crowdfunding allows us to eliminate all fees for the founder, give the backer more of a share of the project, and allows for a peer-to-peer relationship between the founder and backer, without an unnecessary middleman. Without the hindrance of a centralized corporation, Fundition also increases the transaction speed by many times, allowing for donations to be available quickly and securely. The Steem blockchain is known to have one of the fastest transaction speeds in the industry.
Due to its reliability, immutability, and superior data architecture, blockchain technology is already becoming ubiquitous across all sectors. However, blockchain is extremely complex for non-technical individuals. Our solution is a decentralized crowdfunding platform that will allow mainstream users (without knowledge of blockchain or cryptocurrency) to begin using blockchain-anchored technology to acquire, give, and receive cryptocurrency tokens, towards the support of founders, without any fees. That user (either founder or backer) can choose to never learn about blockchain or cryptocurrency, simply following instructions for converting their earnings to fiat, or they can choose to learn (as part of the platform) how to speak about and employ this cutting edge technology in novel ways.
Fundition is a next-generation, decentralized, peer-to-peer crowdfunding and collaboration platform, built on the Steem blockchain. Our aim is to replace old centralized models (such as Kickstarter, Indiegogo, Patreon, or GoFundMe), and offer a way for individuals and organizations to either fundraise for, or give to meaningful projects.
The Fundition platform gives users many benefits, including access to the large base of Steem apps users, which is growing exponentially each month, and merit-based upvotes within that system that translate into real currency. Backers are also rewarded for giving, and the gamification within our platform will provide interaction and a revenue stream for all involved parties (no matter how small).
One of our core goals at Fundition is to continually improve this platform, and we will be rolling out new features that we believe benefit all users of the platform. For example, one of our features is to allow backers to donate in such a way that funds are released throughout a project’s lifespan (via regular heartpower upvotes).
Steem is a blockchain-based rewards platform, upon which users are able to monetize their content, and grow their community. It is also a next-generation blockchain, uniquely designed to run real-time applications with near instant, fee-less transactions. Steem has been battled-tested since 2016, and has the capability of processing more transactions per second than Bitcoin and Ethereum combined. We invite everyone to read the bluepaper describing Steem.
Steem is a rewards-based blockchain, which enables Fundition to mirror the same. T he STEEM token, which is the “coin” (currency) for the entire Steem blockchain ecosystem, is distributed to the most valuable contributors by "upvote" and "like"-based algorithms. (STEEM is a tradable token that is easily exchanged into other cryptocurrencies and therefore into fiat currency.) This token can be integrated with websites in order to motivate participation between application owners and community members, in order to spur growth. Steem is cost-free for all users and developers, while other blockchains always ask for fees (even for small transactions). Additionally, with an average of 1.6 million transactions per day, the Steem blockchain has proven its scalability, currently using only 0.13% of its total capacity, while most other blockchains cannot yet achieve half that figure.
- 0% fees for donations as Fundition backers (as accountholder of a complimentary Steem account) vs. 5%-15% fees on other platforms.
- 0% fees for support as Fundition founders (as accountholder of a complimentary Steem account) vs. 3+% fees for other platforms.
- Backers can purchase HeartPower instantly, and use it to back multiple projects over a lifetime span.
Fostering decentralized funding
Allowing for simpler collaboration
Releasing exclusive features
Our mission is to disrupt traditional crowdfunding models for the benefit of all stakeholders, leading to a larger number of inventive projects that will impact the world in meaningful ways.
A Founder raises funds to produce a theatre play or record a music album. This Founder can’t launch a crowdfunding and all he can do is to promise some rewards to his Backers. In most of the cases, the Backers only receive promises and nothing else because their interests aren’t protected. The Fundition platform can solve this issue by providing a minimal reward to every contributors. So that, when they support a project on our crowdfunding platform with their money, the Backers will get not only promises (unlike other crowdfunding platforms), but also a real advantage - a raised in their HeartPower.
All founders on the Fundition platform have a common desire to fund their projects. However, these projects can be very different: music recordings, books, cutting-edge technology, or a fundraiser for a local sports team or charity. No matter what the project, the overall benefits of Fundition will be significant:
- Fundition is built on the Steem blockchain, and has immediate access to the users on that platform (currently 2 million, and growing).
- All donations will be available within the founder’s Steem or CoinBase account within 0-7 days, with no complications, fees, or intermediary (if they create a free Steem account). The funds come directly from the backer or from the Steem blockchain.
- Fundition is a benefit-based corporation, and does not take profit from your transactions.
- Support is complimentary for holders of a free Steem account.
- There is a direct peer-to-peer link to ALL backers.
- Founders can be featured by the Fundition account, which leads to additional exposure and interest.
- Fundition donations are the gift that keeps on giving (literally). Steem accountholders may opt to give a “heartpower” donation that will give micro-donations of Steem on every piece of content posted by the project.
- Fundition project posts, as part of the Steem blockchain, will gain the attention of large account holders (whales or dolphins), and those users will support posts that are already successful on the blockchain.
- Participating in the first decentralized crowdfunding platform can be part of the story, and assist getting you into the media.
- Be an early adopter on a platform that will get a great deal of attention in coming years. Traditionally, early adopters of such platforms gain more visibility and support than the projects that enter the ecosystem once it is saturated.
Backers on the Fundition platform will have many advantages over backers in other centralized crowdfunding platforms. Generally, backers come to crowdfunding via their favorite artist or inventor; when that happens on Fundition, they will have a much more intimate connection with the founder. Additionally, everything the backer does will lead to rewards; from the founder (in the form the founder chooses), from the blockchain heartpool in the form of SBD or Steem (both Steem currencies, which are exchangeable for Bitcoin or other cryptocurrencies, and by extension, fiat currencies), and in the form of heartpower, which is given to the backer’s Steem account in the form of SP. The benefits to backers are more significant than any other crowdfunding platform:
- Every contributor will receive something. Even the smallest donations or contributions will gain some heartpower, at the very least.
- All donations are sent securely, with no middleman, to the founder. This will be verified directly from your bank account or your Steem account, depending on the type of donation.
- You will not be supporting a centralized corporation or its stakeholders with your donation.
- You will have the opportunity to make an anonymous or public donation, and if you give publicly, you can interact with the founder and other backers on the Steem platform, building your like-minded community.
- Direct donation for hearts via credit card or cryptocurrency.
- Purchase and/or give free hearts with HeartPower.
- You give concrete support to a well-deserved Founder. Making the concept of Proof of Merit alive.
- You share your rewards with a project that you like.
- You work with people who have the same passion as you do.
At Fundition, we believe strongly that plankton, minnows, dolphins, and whales should have relative parity. We also believe that Steem seeks such equality for its users, though it has struggled with uneven distribution of Steem (mirroring income inequality in the fiat world). We see the following challenges to the Steem ecosystem:
- The current posting and voting system on Steem tends to privilege existing users over new users.
- “Proof of Brain,” as a concept, incentivizes users to earn money with their own intellectual property. However, this does not inherently encourage community building or support.
- Following the last point, there is also no real ethical or moral guidelines on Steem. In consequence people are totally free which is a good point, and in fact they can abuse of the system (so abusing from all the community) without any fear of being caught. There is no possibility to have a collective freedom without any justice.
- Finally Proof Of Brain does not guarantee any sort of community value, nor any sort of justice, it privilege the individual value rather.
When new users come to the Steem platform, they often post meaningful content, seeing the potential of their ideas to generate revenue. Those PoM is a valuable, ethical overlay to deploy within the Steem ecosystem, particularly as the next generation of Steem apps are developed, users are often discouraged when they see others posting similar content, earning hundreds of dollars, while their own post only receives a few cents. PoM help them to see a bigger picture, and feel like they are part of something bigger. Fundition will allow those users to see the value of their hearts, and their importance to the Steem community. We are confident this will lead to a higher rate of user retention on the Steem ecosystem. PoM is not antithetical to Proof of Brain PoM is a valuable, ethical overlay to deploy within the Steem ecosystem, particularly as the next generation of Steem apps are developed, and SMT tokens allow for external development on the blockchain PoM is an independent system which may be adopted by any developer There is value to the decentralization of the Steem blockchain, and presumably all of the apps within its ecosystem. However, as the ecosystem develops, the apps themselves operate as oligarchy-like systems, unless democratic principles are adopted. On Steem as well as in any community, there is merit in the distribution of income and social position, and this naturally regulates rivalry between individuals and factions.
Fundition allow users to use and see the value of their hearts.
We believe in a world that is more equitable, more fair, more supportive of Founders that make a difference.
Our technical team is really efficient and will continue to work and improve Fundition at a lightspeed pace.
IT Consultant, HSIM
Psychologist, Strasbourg University
Educational Management, Intl. Burch University
Neuropsychologist, Strasbourg University
Founder, MGX NETWORK
Founder, Lucky Red Fish
Founder, OCD Curator