WIKIPEDIA (is) an example of “crowdsourcing”, it demonstrates that on the internet, as in the real world, many hands make light work. Can the same approach be applied to money as well as time? That is the idea behind “crowdfunding”, in which lots of small contributions are aggregated online to support artistic or creative ventures.
Millions of dollars, in increments as small as $5, have poured into efforts that connect artists, musicians, writers and others with people willing to fund their projects. crowdfunding works by raising money for a well-defined project within a specified time limit and with a goal of raising a particular minimum sum (typically around $2,500). If the goal is not met, no funds are collected. Donors usually get some kind of reward or recognition (a mention in a film’s credits, for example), but they do not have any rights in the resulting work.
Read more at The Economist.
