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The Baubax, whose slogan is “world’s best Travel jacket”, provides an awesome jacket to customers. It was launched on Kickstarter in July 2015 and raised over $9 Million in 2 months, making it the 4 most funded project on Kickstarter. The product comes in four styles and is designed with multiple hidden functions to make commuting more comfortable and hands-free. The product, even before the campaign was marketed, was the right product and the right time for the right group of people. This can be the first reason that it can be a successful crowdfunding project.

The second pros of this project is the best reward to the funders. The Baubax announced clearly on the kickstarter that the funders will get the jacket by a low price at $99 which would retail for $160. Furthermore, the Baubax offered its first set of backers preferred delivery.

Lastly, Baubax developed good stretch goals for funders. For Baubox, stretch goals included touch screen-friendly half-scooped gloves, a water-resistant phone pocket, and a nice, folded blanket that fits in a pocket. I believe they are all good reason to get people to pledge again.

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Gut Weißenhaus

This is a special example because Gut Weißenhaus was not a high-technical project, but just a traditional business. It is a schloss (a kind of construction) in Germany. It is next to the Baltic Sea and about 100 km away from Hamburg. The owner of this 75 hectare estate bought it in 2005, and manage to crowdfund €7.5 million for the renovation and conversion. The backers can receive dividend through their investment. Even if it seems not an attractive industry for investors, it still made a record as the largest amount of crowdfunding in Europe.

I choose this case because it can illustrate some interesting facts. As you know, Europe face serious economic issues and lack of innovation. Thus, the most popular project does not rely on the new business model but the traditional industry. It is a steady investment for those who want to invest low-risk projects.

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The Ubuntu Edge was a proposed high-concept smartphone announced by Canonical Ltd. on 22 July 2013. It had the highest target of any crowdfunded project to date, $32,000,000 over a one-month campaign. However, the project "only" raised $12,809,906, with 5682 pledges to purchase the standard model of the handset.

The edge was designed as a hybrid device, which would function as a high-end smartphone. Although the Edge is the second highest funded crowdfunding project at the $10 million milestone, it was not able to meet its goal of $32 million to start the project.

At the beginning of the project, the creator wants to produce a proposed smartphone with high-end specification which is often called superphone. The phone in imagination can provide the extremely powerful function and integrate almost all of the leading technology. Then, why it failed in the end?

Someone maybe say even if it was not able to meet the objective, it still could be one of the superior crowdfunding cases. However, I consider that the creators made huge mistake on determining the market size and the investors’ confidence. Any successful products or ideas cannot offset the blunder on the strategy. Therefore, I have to regard the Edge as a failure example for crowdfunding. t

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The DAO was a digital decentralized autonomous organization and a form of investor-directed venture capital fund. The DAO does not belong to or serve any country or government, and even we do not really know who established and owned it. It can be regarded as a new kind of community which bases on not location or ethnicity, but the same beliefs. As an instantiated form on the ethereum blockchain, it was launched on 30 April 2016 and a 28-day crowdsale to fund the organization. In the end of the project, totally over US$100 million was raised and the DAO will use the fund to invest other companies or projects. Funders of the DAO can hold the stock of the DAO, and they can receive voting rights and dividend as shareholders. All the activities are performed through internet and digital currency (e.g. Bitcoin). Actually, the blockchain is the technical foundation of the Bitcoin.

In my opinion, the success of the DAO can rely on several reason. Above all, I believe the most significant aspect is that the digital currency can be a disruptive innovation. Being distributed and decentralized, it can bring us a new economy and financial model which faces to the future. Theoretically, digital currency which is not issued by governments will never lead to inflation while a distribution system will protect your asset security better than the bank. Secondly, open and transparent management will give funders enough confidence and sense of participation.

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Star Citizen is an upcoming space sim (space flight simulation) video game which is holding several world records including “the largest single amount ever raised via crowdsourcing” at the sum of US$39,680,576 (Guinness World Records, 2014). Although Chris Roberts, who is the director of Star Citizen, said the game would be released in 2015, it has not been finished yet. With the development continuing, Star Citizen is still raising funds via both its own website and Kickstarter, one of the biggest crowdfunding website. Some information shows that the number of the raised funds has become nearly $117,000,000.

How Star Citizen raised the huge amount of money? In my opinion, there can be three most significant reason. First at all, the space flight simulator game has numerous fans, but recently the market and most of the inventors pay more attention on web game or mobile game. Thus, a high-quality client space sim game can attract the fans easily. Furthermore, backers can receive virtual rewards in the form of tiered pledge packages, which include a spaceship and credits to buy additional equipment and to cover initial costs in the virtual economy, like fuel and rental fees, and so on. Lastly, developer(s) of the game announce that the fund will be used to support the development of the game, so the fans may be glad to contribute their money to make the game released.

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According to the report provided by the infoDev and The World Bank in 2014, crowdfunding is an Internet-enabled way for businesses or other organizations to raise money in the form of either donations or investments from multiple individuals. Normally, this model is based on three types of actors: the project initiator who proposes the idea and/or project to be funded, individuals or groups who support the idea, and a moderating organization (the "platform") that brings the parties together to launch the idea (via Wikipedia) .
In a typical crowdfunding project, the inputs of the individuals in the crowd trigger the crowdfunding process and influence the ultimate value of the offerings or outcomes of the process. Each individual acts as an agent of the offering, selecting and promoting the projects in which they believe. Motivation for consumer participation can be the feeling of being partly responsible for the success of others' initiatives, striving to be a part of a communal social initiative , and seeking a payoff from monetary contributions. It also can be described as three phrases: desire for patronage, desire for social participation, and desire for investment. Furthermore, individuals maybe want to see new and innovative products before common people. Sometimes, crowdfunding projects allow funders to take part in the development directly. Family and friends are often involved as funders because they can be attracted more easily and earlier than others.
Crowdfunding can clearly benefit creators both financially and non financially. Non financial benefits can be raising producers' profile, boosting their reputation, providing market feedback, engaging with their audiences, and so on. It also can benefit creators financially by attaining low-cost capital and finding funders from around the world. The pre-buying model can also help creators to decrease the financial pressure. However, there can be some potencial risks or barriers caused by crowdfunding as well. For both the creators and the investors, crowdfunding may contains "high level of risk, uncertainty, and information asymmetry.[via Agrawal, Ajay, Christian Catalini, and Avi Goldfarb. "Some Simple Economics of Crowdfunding." National Bureau of Economic Research (2014): 63-97.)] The risks also can be identified as a public failure to meet campaign goal, low level of IP protection, public fear of scam or abuse.

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CHARACTERISTICS OF DIFFERENT CROWDFUNDING MODELS

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CHARACTERISTICS OF DIFFERENT CROWDFUNDING MODELS

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In their report, the infoDev and The World Bank also classified crowdfunding into several categories below. It is important to identify which model a crowdfunding project belongs to and the core benefits and risks of this project.

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Differences between the successful crowdfunding projects

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Differences between the successful crowdfunding projects

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To identify the differences between crowdfunding projects, five projects was selected to be the examples.

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Which is the most popular crowdfunding business?

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Absolutely! Wikipedia has listed the highest funded crowdfunding projects.

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List of highest funded crowdfunding projects - Wikipedia

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MobileGo tokens will be used to gamify the mobile platform, and to incentivize gamers for loyalty and participation through rewards. MobileGo tokens will also allow for smart contract technology. MobileGo tokens will allow for the development of a decentralized virtual mobile gamer marketplace, the ability for gamer vs.

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As you know, crowdfunding is  a typical internet-based services. Here is some famous crowdfunding platforms in the world.

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Clearly, crowdfunding has performed a rapid boost in the recent years.

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Nowadays, crowdfunding has become a significant model for organizations or individuals to establish a new business. So, why everyone is thinking about it?