How JumpStart is Reimagining the Concept of Crowdfunding with NFTs

NFTs have become a buzzword recently, with high-priced sales of digital artworks and other unique items making headlines. But the use of NFTs extends far beyond the art world, with the technology potentially revolutionizing industries such as gaming, real estate, and even crowdfunding.

Crowdfunding has become an increasingly popular way for creators and entrepreneurs to raise money for their projects. It allows them to bypass traditional funding channels and directly connect with their audience, allowing them to bring their ideas to life. However, traditional crowdfunding models have their limitations. Blockchain and NFTs offer a unique opportunity to reimagine the concept of crowdfunding and create new, more sustainable, and engaging models.

This is where JumpStart Comes in

JumpStart is a decentralized crowdfunding platform that helps creatives, entrepreneurs, and community builders get their ideas funded using NFTs to offer contributors "proof of ownership" in the projects they support. This innovative approach sets JumpStart apart from traditional platforms like Kickstarter and GoFundMe and has the potential to revolutionize the crowdfunding model.

By providing backers with a sense of ownership in the projects they support, JumpStart creates a more engaging and rewarding crowdfunding experience.

How Does JumpStart work?

Creating a campaign and funding an idea on JumpStart is decentralized and governed by smart contracts. This means it’s automated and free of tampering from the team SideKick.

A business owner looking to raise funds on JumpStart can easily create a detailed and engaging campaign through the simple-to-use interface. Campaign owners need to set different contribution prices, accompanied by perks and, more importantly, NFT tiers. These tiers are actual unique NFTs that can be minted, transferred, and traded on different marketplaces.

JumpStart allows creators to set a funding goal and create either a private or public campaign. The creator pays a network fee to get started and begins the campaign along with the necessary smart contracts on the blockchain. Contributors can then browse all live and ongoing campaigns on JumpStart and choose which ones to invest in.

To contribute to a campaign on JumpStart, a contributor simply selects the project they want to support, navigates to the campaign page, and approves the tier they want to invest in. They will then mint the corresponding NFT tier. If the campaign reaches its funding goal, the funds will be released to the project creator. However, if the campaign does not reach its goal, the funds will be released back to the contributors, thanks to smart contracts. JumpStart's funding cap mechanism ensures no risk for the contributor if a campaign does not reach its goal.

NFTs and crowdfunding: A match made in blockchain heaven

At JumpStart, tier NFTs allow creators to provide even more value for backers. NFTs as perks mean that long-term rewards can be tracked and passed from one hand to the other (traded).

The rewards that can be offered to contributors, enabled by NFTs on the JumpStart platform, include long-term discounts, access to airdrops, use as in-game items, and many other creative ideas. On a functional level, NFTs are useful as a membership tracking tool; on an emotional level, they serve as a membership badge role.

Furthermore, more than funding a Web3 project idea or business, NFTs can be useful for private sales and DAOs and even allow anyone to create an exclusive community. This works in several ways like:

• Verification of membership for private or public communities

• Granting voting rights to members of a private DAO

• Grant access to certain privileges and resources

As a blockchain-agnostic platform, creators can fund their ideas by launching campaigns on any suitable EVM-compatible chain.

Wrapping Up

JumpStart is a community of people funding and launching creative projects. More than funding an idea or choosing a campaign to back and receiving NFTs, anyone can participate in the SideKick Finance affiliate program. With the JumpStart crowdfunding platform already delivering on its promise via successful campaigns, it’s fast becoming a new, secure, and transparent opportunity for funding.

Keep up with their updates by following their Twitter, Telegram, and Discord. Have a creative idea? Fund it with JumpStart.