Crowdfunding has a long and varied history, with the concept growing from several fundamental ideas. People have used this form of raising money to get books published. The use of book subscriptions helped authors finance the publishing of their books. Musicians and artists have long been supported by one or more people in their communities.
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With the advent of the Internet, this type of fundraising has changed a bit. Today, there are reliable websites that provide a platform to get an idea initiator together with a large number of people who may support the specific cause or project. There are top crowdfunding sites in India that serve this exact purpose, with no charge for starting the campaign.
Modern crowdfunding is probably based on the cooperative movement of the 1800s and 1900s. These groups worked together, putting their funds together to better a community or a specific project. In fact, history shows that the base for the Statue of Liberty in the U.S. was funded by this method.
The top crowdfunding sites in India make widespread use of the Internet and especially make use of social media. The arts and music are two of the areas that benefit from this type of financing, although charity causes and development projects have become increasingly popular in this area.
With many of the leading sites, it is possible to select a cause or project to raise funds for or you can start your own campaign. The use of modern technology helped this funding method take off in the early 2000s, with a number of sites coming on board with the flurry of platforms in the last six or seven years.
The fee for using an established platform can be as high as 20%, though some top crowdfunding sites in India apply a “drop” rate of 5% or less.