It goes without saying that not all startups get past the startup stage. If it were easy, everyone would do it, right? But thanks to crowdfunding, following your dreams has been made a bit easier. Platforms such as KickStarter and Indegogo, finding like-minded individuals who share your passion, and who will also donate money, has never been easier.
The success stories that come out are pretty inspiring. The pebble, and E-Paper customizable watch, was one the most famous of crowdfunded projects to date. These handy little watches not only told you the time but also phone notifications like text messages and reminders. Applications could also be installed and used as a smartphone remote, all at your wrist. The initial funding goal was a modest $100,000, but by the end $10,266,845 was raised, 10,266% more than requested.
Because of this seemingly easy way to make money, scammers and con-artists weren’t slow to hop on the bandwagon. Thousands of bogus crowdfunding projects are floating around. The too good to be true type situations are usually just that and a lot of the time the backers lose 100% of their donation to a fake projects. Funding the projects we believe in is a good feeling, but be cautious before whipping out your wallet.
For more on the best (and worst) crowdfunding projects check out this infographic. And don’t forget to leave a comment telling us what you think!