Unglue.It (v. t.) 4. For an author or publisher to accept a one-time fixed amount of money, raised by the public, for the perpetual release of an ebook under a Creative Commons license. A crowd-funded project created by Eric Hellman and friends at Gluejar. [more inside]
Crowd surf, crowd sourcing, crowd funding? Like being supported by an ocean of people, or collaboration from around the world, crowd funding gets projects financial backing from the people. It's not new, as it has been the method for funding charities and political campaigns for a very long time, but it is a novel attempt at getting funds for other projects. Some people have placed their hopes in crowdfunding as a way to save journalism, while other companies are looking to get micropayment-scale public investments in fashion by offering investors the potential for a cut of future profits. The more typical return is physical goods, like getting the t-shirt you help sponsor [via mefi projects], or a limited edition version of the album. There's another site long these lines, but more free-form in structure: Kickstarter, crowdfunding for people who make stuff. [via mefi projects] The fundees can set a fundraising goal, deadline, and a set of rewards for backers. If the goal's reached by the deadline, then everyone's charged and backers get their goodies. If not, nobody's charged. The previously discussed 8-bit tribute to Miles Davis' Kind of Blue, Kind of Bloop was funded this way.