ArtSites Updates

Last week, I received an email from ArtSites artist, Millie Greene, about an art book project that a fellow artist/friend, Sunny Apinchapong, had on Kickstarter.

Her email reminded me that last week Kickstarter announced it is also now available in Canada! Woohoo!

So, this week, I wanted to write Part 1 in a series of articles on Kickstarter or rather "crowdfunding", in general.

Perhaps, the first question you have is: What is Kickstarter?!

Kickstarter is an online website where you pitch / present potential projects and then, ask "the masses" to "back" you (financially) and fund your project!

This kind of funding is often called "crowdfunding"! :)

Kickstarter is not the only "crowdfunding" website out there; there are many.

Another popular one is Indiegogo.

Each crowdfunding service works slightly differently.

So, it's important to know how they work and what kinds of projects they accept.

For example, on Kickstarter, you will only receive the funds pledged when you successfully reach your budget goal.

And, once you're successful, Kickstarter deducts a 5% fee for the money raised.

In comparison, on Indiegogo, you can receive ALL the funds pledged - regardless of whether you reach your budget goal or not.

However, IndieGoGo charges a 4% fee when you meet your funding goal, and 9% if you do NOT meet your funding goal.

Another issue to consider are the fees for processing and collecting the "funds".

Once again, on Kickstarter (for US projects),payments are made through Amazon, who takes an additional 2-6%, depending on whether your "backers" are paying via their bank, domestic credit card or international credit card.

On Indiegogo and Kickstarter (Canadian projects), they charge a 3% fee for payment processing.

Please note that all payment processing fees are on top of the other 4%, 5%, or 9% basic fees.

Still sound pretty attractive?!

Well, in principle, these services are quite compelling, especially since they may get your project in front of many more potential funders.

However, there are some important tips and rules you should understand before pitching your project.

Over the next few weeks, I'll write more on:

If you have any specific "crowdfunding" questions, please send them to me and I'll make sure to include them in my future posts.

In the meantime, take a quick look at Kickstarter and Indiegogo and start thinking about some potential projects you've been wanting to get funded.

Then, let's see if we can find some creative ways to get your art projects and ideas funded! :-D