Like Kickstarter, but with a Sponsor Pool
The Comic Kickstart Round at Cubic.so
The dReader crew is at it again. They are the driving force behind a unique crowdfunding campaign currently live at Cubik.so. The attached video gives a brief introduction.
Transcript
Most of us are familiar with traditional comic crowdfunding. In this model, your amazing fans, friends, and colleagues support your comic by making small pledges for various rewards.
These pledges are combined into a backer pool, which is then distributed to the creator after a certain period of time if specific criteria, such as a minimum funding goal, are met.
Cubik introduces a second pool of funds for creators, specifically a matching pool. This pool is sponsored by important players in the Solana ecosystem who have chosen to generously support creators in the space.
At the end of the funding campaign, a portion of the matching pool is given to the comic creator, and this is added to the money raised by the backers of the project.
But this is where things get really interesting. In each funding round, several comic projects are simultaneously seeking funding. Cubik does not use dollar-for-dollar matching, as this is easily manipulated.
Instead, it uses a special technique called quadratic funding to determine how much each project actually receives from the sponsor pool. In summary, the broader the support, the more the project will receive.
Every project will receive the funds from their backer pool, but some projects will receive a larger percentage of the sponsor pool than others. The number, not the size, of contributions matters the most.
The algorithm is designed to detect which projects have the broadest support and allocates funds from there. This can create a really unique multiplier effect where a small donation of even a single dollar can generate significant revenue for the creator!
In this recent example, the donation of a single dollar would add over $40 that amount from the sponsor pool!
The current round of funding runs until June 24th so it is a great time to witness this funding mechanism in action. I know the dReader team would love to organize more funding rounds in the future. So have a look around and if you happen to know how to use a Solana wallet, consider backing one of the projects listed. Even a dollar can make a big difference to the creator, and in this case, that’s not just hyperbole.
Links
Lump Dog is one of the digital collectible comics in this funding round. If you know how to use a Solana wallet, know that even a dollar or 10 $MOTHER from what you got from Iggy! can make a bit difference to how much sponsor pool money I’ll receive at the end of the campaign.
It’s been a busy week for me. Tomorrow the prologue to The Lump Sum Saga drops on dReader. More on that in a few hours. Phew!