Using blockchain and cryptocurrency to crowdfund is an emerging trend. Are you a creator who might want to try it? I am here to share with you some straightforward tips. Read on to get a leg up and fund your next production.
1. Do your homework on the tech.
The best way to ensure that your campaign runs smoothly is to gain an understanding of the technology before you start. Learn how a blockchain works, how to use popular wallet software and how to move between cryptocurrencies and fiat in your local area.
There are plenty of resources to get you started: Binance Academy is a beginner-friendly resource that can take you all the way from the basics to more advanced topics. (Disclosure: My company runs features on the Binance smart chain.) If you prefer video resources, you may want to start by watching online tutorials and educational videos related to blockchain.
Although this does require a little extra effort on your part, the perks can be well worth it: full transparency and global reach that breaks down borders and opens your campaigns to the world.
2. Clearly outline what contributors can expect from you.
Anytime you are requesting funding from your fan base, it is important to clearly outline what you plan to use the money for. For example, a musician might clearly state, “I have recorded a demo song, and I am raising money to re-record the song professionally, fund the production of a lyrics video and carry out paid promotion on social media.” If you tell your contributors exactly what you plan to do with the money, I’ve found they will be more likely to help fund your next endeavor.
Continue reading? https://www.forbes.com/sites/forbesbusinesscouncil/2022/10/21/five-tips-for-creators-who-want-to-crowdfund-using-blockchain/?sh=1e7e43942fef
1. Do your homework on the tech.
The best way to ensure that your campaign runs smoothly is to gain an understanding of the technology before you start. Learn how a blockchain works, how to use popular wallet software and how to move between cryptocurrencies and fiat in your local area.
There are plenty of resources to get you started: Binance Academy is a beginner-friendly resource that can take you all the way from the basics to more advanced topics. (Disclosure: My company runs features on the Binance smart chain.) If you prefer video resources, you may want to start by watching online tutorials and educational videos related to blockchain.
Although this does require a little extra effort on your part, the perks can be well worth it: full transparency and global reach that breaks down borders and opens your campaigns to the world.
2. Clearly outline what contributors can expect from you.
Anytime you are requesting funding from your fan base, it is important to clearly outline what you plan to use the money for. For example, a musician might clearly state, “I have recorded a demo song, and I am raising money to re-record the song professionally, fund the production of a lyrics video and carry out paid promotion on social media.” If you tell your contributors exactly what you plan to do with the money, I’ve found they will be more likely to help fund your next endeavor.
Continue reading? https://www.forbes.com/sites/forbesbusinesscouncil/2022/10/21/five-tips-for-creators-who-want-to-crowdfund-using-blockchain/?sh=1e7e43942fef
