As the end of the module is becoming sooner and sooner, our work is getting clearer. Indeed, we are now starting the final step of our project, the video. But enough said on our progress, let’s talk about crowdfunding.
Crowdfunding is the practice of raising money from a large number of people interested in the service you want to create, usually done via the internet. It is fueled by three actors, the initiator, who needs the funds, the group that supports his project and last but not least the platform that makes raising these funds possible.
Seen as an easy way to get funds for your project, crowdfunding is a pretty nice concept, but the thing is that people that put money into your project then expect some kind of service in return.
That is why in the world of design, crowdfunding might not be the way to go, because when your project doesn’t involve some kind of service the fund raiser will be able to profit from, you might not get any funds at all, or even after you get them people will come back to you and ask for their money back.
There is a good side to it though, for instance crowdfunding gives you and your product so much visibility even before the product is created that you will spend less time trying to get that visibility.
Good or bad, the concept of crowdfunding is working very well, in 2013 its industry grew to be more than $5 billion worldwide.
Crowdsourcing is a similar concept (that includes crowdfunding). It is the process of obtaining services, ideas, or even content through the help of a large community such as an online community for instance.
The crowd sourcing platform (99designs is an example) acts as a middle man between the client and the designers. So not only does it give various companies an easy way to innovate in the graphic design world by putting them in contact with multiple potential graphic designers but it also allows those designers to have a chance to work for the biggest companies in the world.
Although it seems like a win-win situation, the words of Dan Ibarra, co-founder of Aesthetic Apparatus (a design studio) raise an important point. He states that “99designs is something akin to a Walmart […] It’s not necessarily dedicated to bringing you good work, but to bring you a lot of it. That’s not necessarily better.”.
I completely agree with Ibarra’s statement because I believe that quality is way more important than quantity. Something that someone thought about, and spend a lot of time working on will always be better than a lot of various product made in a hurry to please the client.