SideKick Finance has announced the launch of its new product, which consists of a decentralized NFT crowdfunding platform aimed at creators and companies.
Crowdfunding has revolutionized the way individuals, organizations and companies around the world raise capital investment in recent years.
Although the existence of this tool is not recent, but has been in the market for years, the emergence of decentralized technologies and finance (blockchain/DeFi) have managed to boost the way it is used today.
WHAT IS CROWDFUNDING
Crowdfunding is a tool widely used by creators and entrepreneurs in order to obtain the necessary financial resources to promote their projects.
In this way, it constitutes an innovative paradigm that reduces costs and offers a more secure and transparent method of financing. This new figure places the power on the community, making it a more democratic system.
Traditional crowdfunding is centralized, where commissions are charged and is developed with the intervention of intermediaries. In the case of decentralized crowdfunding, blockchain is used to link users and provide services at a minimal proportion of the cost.
WHAT IS JUMPSTART
JumpStart is a multi-layer NFT crowdfunding platform that is built on multiple EVM-compatible networks, such as Ethereum, Binance Smart Chain, Polygon, among others. It is also part of the financial tools team of SideKick Finance.
It is a decentralized self-service tool so that anyone can take advantage of the usefulness of non-fungible tokens and start a campaign in just a few minutes. Thus, it allows creators and entrepreneurs the possibility of financing their ideas through the use of stable coins.
In this sense, JumpStart provides an efficient, scalable and interoperable platform, allowing the implementation of various use cases, such as games, music, art, charity, among others.
Those entrepreneurs or groups that intend to start their project, can easily create a complete and attractive campaign at the same time, in addition to establishing different benefits and rewards by taking advantage of the utilities of the NFTs.
In today’s crowdfunding, after collecting the corresponding fees, there are no policies to safeguard backers’ interests if the project does not reach its goals intentionally.
In this way, JumpStart innovates through the use of smart contracts, which provides extra security by guaranteeing that funds will be released only if certain conditions are met, both for creators and sponsors.
Thus, contributors can access the JumpStart platform, select the project they are interested in financing, review the information provided on the campaign page, approve the contribution level they wish to subscribe to, and mint the NFT of the respective selected level.
Ashton, CEO of Signed Tradesaid that traditional crowdfunding platforms offer different levels of contribution at different prices, which in turn offer rewards.
JumpStart rewards each contributor with a unique and unrepeatable NFT, with the advantages and benefits that come with it.
SOME USE CASES
One of the main use cases are the projects linked to GameFi that need investments through crowdfunding to start the project.
Developers of blockchain games can easily create their campaign, along with the NFTs that can be used in the game, so that they can then be sold to a large number of players.
Another case is that of influencers looking to create private communities or DAOs for the ones they already own. Through JumpStart, they can create NFTs that represent income to their communities, and for other utilities.
We can mention the case of Signed Trade (Signed LLC)a platform that aims to return independence to the music industry, achieving success in its initial round of investment, achieving the sum of 50,000 BUSD thanks to the use of JumpStart, with various sponsors.
In this way, they issue NFTs with different types of rarity, depending on the level of contribution of each one, with different percentages of income by fee divisors or based on funds raised, which are distributed among the holders of each NFT.
NFTs that contribute to a campaign are transferable and can be traded on marketplaces such as OpenSea. In addition, these NFTs can be incorporated into different new products, access to events, private membership, among others. In this sense, they prioritize long-term benefits and the consolidation of a community of sponsors.
Below we share the different means of contact you have from the SideKick team, as well as from JumpStart specifically, either by e-mail, website, Twitter, Discord, y Telegram.
IMPORTANT: NFTEXPRESS only publishes articles for informational purposes. Nothing contained herein contains the character of recommendation or promotion of any type of investment for the reader. Before making any kind of investment, it is recommended to consult with a specialist in the matter.
Written by Luciano Garriga (TW:@luchogarriga) for NFT Express