The practice of funding a venture or project by raising money from a large number of people, mainly through the internet, is called crowdfunding, and it’s increasingly becoming the funding method of choice for many people. Why? Because it allows people who don’t ordinarily have access to capital to fund the projects they want to fund.

Just in 2015, crowdfunding allowed people to gain access to over $34 billion in much-needed funds. It has become such an important way for ordinary people to raise money that it has even earned its own holiday, known as Crowdfunding Day, which is celebrated on March 14th annually.

The History of Crowdfunding Day

Although we don’t know the exact origins of this holiday, we do know that it has only been around for a couple of years now, probably in the last 10 or so. What we do know, however, is that crowdfunding has been used throughout history to raise money for projects.

Probably one of the most famous examples is the funding of the Statue of Liberty in the late 19th century. During the mid-1990s, the internet was used for the first time for crowdfunding. This was done by the Vegan Society.

The first online crowdfunding platform was started in 2001 by Brian Camelio when he launched ArtistShare. Since then, a variety of crowdfunding sites have come online, including Kiva, Kickstarter, and GoFundMe. Nowadays, crowdfunding sites are used to raise billions of dollars for individuals, artists, charities, and businesses.

Some Important Facts About Crowdfunding

Eager to learn more about crowdfunding and what it has done over the years? If so, then check out the following facts that we gathered below. Although these facts won’t give you detailed information on this subject, they will give everyone a better understanding of crowdfunding. More than worth a few moments of your time, don’t you think?

• Every year in North America, over $17.2 billion is raised via crowdfunding.
• Just in 2020, there were 6.4 million crowdfunding campaigns around the world.
• The global crowdfunding market is expected to grow to $300 billion by 2030.
• In 2021, the global crowdfunding market was worth only $12.27 billion.
• Approximately 1 out of 5 crowdfunding campaigns focus on social issues.

Observing Crowdfunding Day

Crowdfunding Day can be observed in any number of different ways. People can take the time to learn more about crowdfunding, donate money to a crowdfunding cause they support, or even think about starting their own crowdfunding cause and launching it on one of the popular internet platforms. People can also spread the news about this holiday by using the hashtag #CrowdfundingDay on social media.