ickstarter announces the formation of a decentralized fundraising platform in Celo, CELO soars by 18%

Kickstarter, the leader of crowdfunding platform headquartered in New York, announced on its official website on the 9th that the company plans to develop a decentralized fundraising agreement and intends to use the CELO blockchain as the technical foundation. The goal is to enable many companies including Kickstarter's own platform This agreement was adopted by a fundraising platform.

Kickstarter stated that it is planning to establish an independent company to create a fundraising agreement with functions similar to Kickstarter but based on blockchain technology; according to Bloomberg, once Kickstarter is ready, it is expected to convert its own platform to a new one in 2022 In terms of infrastructure, this transformation will be carried out completely behind the scenes and will not affect the interaction between users and the site.

According to the announcement, since its establishment in 2009, the total amount of funds raised on the Kickstarter platform has exceeded 6 billion US dollars, and more than 200,000 people-funded creative projects have been created. These projects are estimated to have created more than 750,000 part-time jobs, 80,000 full-time jobs, and 2 More than 10,000 companies and non-profit organizations, and have an additional economic impact of $13.5 billion.

Integration with blockchain

Kickstarter pointed out in the announcement that the company believes that using the fundraising knowledge learned since 2009 to guide the development of decentralized protocols will open up exciting new opportunities for the success of creative projects. In a few weeks, the company will release a white paper outlining the technology and plans for the agreement.

To this end, Kickstarter established an independent company called Kick Starter PBC to develop a new agreement. Kickstarter will provide funding for the company, appoint an initial board of directors for the company, and promise to become one of the first platforms for this agreement.

Kickstarter also plans to set up a governance laboratory, independent of existing companies and new companies, to provide independent governance for the agreement. The purpose of creating this independent entity is to prevent Kickstarter from having an excessive impact on decentralized projects.

In response to the reasons for adopting the CELO blockchain, Kickstarter explained in the announcement: We chose CELO, which is an open source and negative carbon emission blockchain platform with the best technology and community to establish agreements. We are inspired by the thoughtful strategy of the Celo ecosystem to build the technology they want to see in the world. Just like the Internet in the early 90s, blockchain is a technology that has not yet formed. Celo’s efforts to minimize environmental impact (and access the blockchain through mobile devices to focus on global accessibility) remind us, The best way to get a better system is to build a better system.

Facing the DAO challenge

According to "Bloomberg", the fundraising platform has faced difficulties in recent years and has largely faded from public awareness. Some projects have exhausted the fundraising platform’s funds but failed to provide returns. Kickstarter has previously risked it. Investors show that the company is not the kind of high-growth startup company they think.

On the other hand, the fundraising platform also faces the challenge of a decentralized autonomous organization (DAO). At present, many fundraising activities that might have been used on the Kickstarter platform are carried out through DAO. For example, last month ConstitutionDAO launched a fundraising event. , In order to seek a bid for a copy of the U.S. Constitution, raised $46.3 million from thousands of donors.

Using blockchain technology can help Kickstarter regain some attention. Many startups and even corporate giants are looking for ways to decentralize their own digital infrastructure; for example, Twitter has been working on it since at least 2019 Develop an open source, decentralized community platform called Bluesky.

The price of CELO has soared

According to Tradingview data, inspired by this news, the price of CELO has risen by 18% in the past 24 hours to $4.35; Coinmarketcap data shows that CELO is currently the 76th largest cryptocurrency by market value, with a market value of $1.59 billion.