This is a very nice breakdown of Wattpad’s new crowdfunding option.
The big story this week is Wattpad’s ninja launch of their fanfunding portal. This week’s press release /blog post received quite a bit of coverage at traditional media outlets, thus proving the great interest there is in crowdfunding.
- Wattpad launches crowdsourcing section to support authors (CSMonitor)
- Wattpad Launches New Self-Publishing Crowdfunding, First Revenue Model For The Social Network (TechCrunch)
- Wattpad Debuts New Crowdfunding Service (Publisher’s Weekly)
- Wattpad Launches Fan Funding Experiment So Readers Can Fund Writers for Exclusive Rewards
Wattpad isn’t the first entity to offer a publishing-oriented alternative to Kickstarter. Pubslush launched in 2011 and while somewhat active on twitter and social media, I’ve rarely seen it mentioned outside of writer chats. I’ve check on their projects a few times over the past few months and yet to see any evidence of a success rate that is better or worse than Kickstarter.
For the last year or so…
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