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Crowdfunding is a method of raising capital through the solicitation of small contributions from a large number of individuals, typically via the internet. This approach allows entrepreneurs, startups, and organizations to gather funds for projects, products, or ventures by appealing to a community of potential backers. Crowdfunding platforms, such as Kickstarter and Indiegogo, facilitate this process by providing a space for project creators to present their ideas, set funding goals, and offer rewards for contributions.
The primary types of crowdfunding include donation-based crowdfunding, where backers contribute without expecting anything in return; reward-based crowdfunding, where contributors receive a tangible reward or product; equity crowdfunding, where backers invest in exchange for ownership stakes; and debt crowdfunding, where funds are lent with the expectation of repayment. Crowdfunding has democratized the funding landscape, enabling individuals and organizations that may lack access to traditional financing sources to secure funding for their initiatives. It also fosters a community of supporters who are invested in the success of the project.
The crowdfunding campaign, initiated by Ukraine’s Monobank co-founder Serhei Horokhovsky as a joke to fund nuclear weapons, quickly went viral. Within hours, it raised 27.2 million hryvnias ($656,000) from donors…