“There’s been a mistake… I want my money back!” That famous line was uttered by Robert Shaw’s character in the 1973 movie “The Sting” when he realized things weren’t going as planned. Unfortunately, that line probably won’t work in the crowdfunding industry – until now! In this podcast, blockchain-based crowdfunding platform PledgeCamp’s President Eddie Lee explains how his platform differs from other crowdfunding portals as well as how his “Backer Protection Program” is holding project creators accountable by allowing investors to cancel the projects they’ve backed and get a refund if they lose faith in a project creator for whatever reason.
A Wharton University professor found that over 85% of projects break their promises, and less than 33% of investors return back to a second project. Investors are usually left with little recourse to recover funding on failed projects. While not an equity crowdfunding platform, the Pledgecamp’s main goal is to solve this issue by providing effective, reliable, and transparent crowdfunding functionality by supporting creators wishing to fund their dreams and by protecting investor/backers with features that emphasize accountability. Here’s a quick video on how their “Backer Protection Program” works:
And they’ve been quite successful in raising money in their own right! The company has raised $17 million in a private funding round and is advised by Randi Zuckerberg (Founder/CEO Zuckerberg Media), Matt Curcio (VP Data at Ripple), and Keith Teare (Founding shareholder at Techcrunch) in the lead up to its $3 million public token sale. That’s pretty solid company.
With low fees, excellent support, and post-funding storefront ability, listening to Mr. Lee on this podcast proves they have the workflow tools and knowledge base to get vetted projects in the hands of potential project backers. You’ll also learn why he’s using blockchain technology to do it all! If you’re a creator ready to start funding your project, or even if your campaign fell short on another crowdfunding platform, Pledgecamp may be the resource for you. Contact Eddie at his website or by email here with any questions or comments and begin the process of bringing your project to the next level of investment!
ABOUT OUR GUEST: Eddie Lee
Eddie Lee is an experienced hardware, blockchain and crowdfunding entrepreneur. As President of Pledgecamp, the next-generation crowdfunding platform, Eddie has combined the best aspects of blockchain – security, transparency and crowd-involvement to solve trust issues surrounding crowdfunding.
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