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Crowdfunding and crowdsourcing
Crowdfunding involves raising money from many people who each contribute a small amount, typically online, to fund a project or venture. It is a form of crowdsourcing, which is obtaining services, ideas, or content from a large online group rather than traditional employees. Many musicians and artists have used crowdfunding successfully to raise funds and awareness for their work.
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Crowdfunding and crowdsourcing
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- 2. Crowdfunding Definition: The practice offunding a project or venture by raising money from a large number of people who each contribute a relatively small amount, typically via the Internet. Many musicians, filmmakers, and artists have successfully raised funds and fostered awareness through crowdfunding. e.g. Amanda Palmer
- 3. Crowdsourcing Crowdfunding is aform of crowdsourcing: Definition: the practice of obtaining needed services, ideas, or content by soliciting contributions from a large group of people and especially from the online community rather than from traditional employees or suppliers. For example, Life in a Day or these music videos.