Etsy Debuts Crowdfunding Platform, Takes On Kickstarter

you probably have a killer concept for handmade Father’s Day instrument belts—but shouldn’t have the money to get started—Etsy just made life a little more straightforward. as of late, the net market introduced Fund on Etsy, its personal spin on the crowdfunding model made in style by way of Kickstarter and Indiegogo.

With Fund on Etsy, the corporate is not providing retailers any new, groundbreaking performance they could not get in different places. It simply brings crowdfunding immediately into Etsy, removing an extra step and permitting dealers to integrate fundraising immediately into their digital storefronts. It also lets in agents to put up listings for items that technically aren’t to be had yet, allowing customers to find them within the context of the Etsy marketplace—which is somewhat a departure from the Kickstarter scene.

Fund on Etsy will run as a pilot within the U.S. from now until August 16th. If all goes well, the program may become any other income circulate for the newly public company. Etsy will pocket a 3.5% reduce of each and every transaction, as well as a 20 cent up-front fee for posting a campaign, consistent with The Wall side road Journal.

[by way of The Verge]