The World’s First “Fanfunding” Platform

By AltFi on Tuesday 26 November 2013

Savings and Investment

Fansflock are blending crowdfunding with the power of fandom in order to fund projects.  

The rewards-based platform aims to create a true sense of community for its users. Fansflock will unite donors amongst whom a shared passion already exists.

“Our main goal is to attract projects that have an existing fan base for products, the arts and even events,” said a spokesperson for Fansflock. “Do you love Michael Jackson, maybe you’re a fan group that wants to create a tribute event in Hollywood. These are the types of fan projects we’re looking to support”. The site is readying to launch its inaugural campaigns. These include a Hollywood-style Star Wars fan film and a mobile game for a popular international brand.

Platform users create a funding goal, reward system and deadline, and projects will work on an all-or-nothing basis. If a campaign is successful, Fansflock applies a 5% charge to the funds collected and third-party payment processing fees stand at around 3-5%.

Facebook, Twitter and Reddit are integrated with the site to allow users to drum up fellow fans into frenzied support. If Fansflock is to draw entrepreneurial minds away from the already-established crowdfunding giants, earning a reputation as a hub for like-minded, die-hard fans, of all kinds, will be crucial. Time will tell if fan-passion can propel this innovative platform to the top.

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