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| Kickstarter takes crowdfunding platform to blockchain |
Crowdfunding platform Kickstarter has placed a huge bet on the blockchain and has announced plans to create an open source deal that will create a decentralized version of the platform's core functionality.
The company said the goal is to roll out a multi-protocol platform, including Kickstarter.com.
The company is creating a new organization called Kickstarter PBC that will begin developing the protocol. The company is financing the project.
The company formed a temporary committee for the organization. It has promised to become one of the oldest platforms for the deal, although an exact timeline for the transition is not given.
The company also announced the creation of an independent governance lab that publishes research on protocol governance issues and interacts with the community.
Kickstarter has shared some ideas with blockchain products. This includes empowering consumers to support projects and build communities around them, while at the same time participating in the success of those products.
While the Kickstarter model stocks are a fully physical or digital product, a new blockchain-based crowdfunding platform is changing that paradigm. By providing project-related tokens to users, these tokens can track the mature product and accumulate value.
For now, the company's goal appears to be to be slow to respond as the deal affects the user experience.
The company said the Kickstarter experience you know will remain the same as a user. You will not see the agreement. But take advantage of the improvements.
Kickstarter supports the development of open source protocols
Although Web3 technology has delighted techies, hobbyists and professional investors. But due to controversies over the use of electricity on some of the most popular networks, including Bitcoin, many ordinary users are still far from the technology.
The company wants to avoid these issues by relying on the Celo blockchain, which uses a less energy-intensive mechanism that the team behind it calls carbon negative.
Not only did Kickstarter indicate that Celo would benefit from the deal, but they also didn't provide many details on how the new institutions would perform in the short or long term.
Kickstarter isn't the only traditional tech giant hoping to develop an open source protocol for its own platform. Twitter is developing Bluesky and trying to develop a decentralized social media protocol.