At fundFlyer, funding for projects can be raised through Bitcoin, rather than traditional currencies. fundFlyer supports the "Purchase Model" or “Donation Model” of crowdfunding. A variety of non-financial returns, or "gifts", can be obtained, such as new experiences, services, or products, and are unique to each project. Furthermore, this model allows supporters to be in close touch with Project Owners, and encourages the development of long term relationships and communities.
Who is the Project Owner?
The Project Owner is the person who initiates a project on fundFlyer.
By marketing his or her project on fundFlyer, the Project Owner attempts to raise the required amount of funding (in Bitcoin) from the Project Supporters. If the funding goal is reached, the Project Owner may then exchange the raised Bitcoins for cash, using bitFlyer or another Bitcoin exchange / marketplace.
As the Project Owner gains fans and followers to his or her project, he/she can share updates and news with the Project Supporters.
Who are the Project Supporters?
The Project Supporters are the people who contribute their money towards realizing a Project Owner's project, by way of purchasing gifts or making donations with Bitcoin. If the project's funding target is not reached, the amount of Bitcoins contributed are refunded to the Project Supporters. Contributions are only accepted in the form of Bitcoin; yen, dollars, or other currencies are not accepted.
When does a project begin?
First, the Project Supporter chooses a gift in which to contribute to the desired project from fundFlyer. A Bitcoin payment is then made from the supporter's bitFlyer account to the Project Owner. Once the project's target funding level is reached, the Project Owner commences execution of the project, and provides gifts and updates back to the supporters.
If the targeted funding level for the project is not reached within a designated period of time, the project is deemed unfunded, and any contributed Bitcoins are refunded to the Project Supporters.
How do I support a project?
- Open an account with bitFlyer.
- Once you've opened an account, purchase bitcoins using the bitFlyer Bitcoin Market, or transfer them from an external Bitcoin wallet to your bitFlyer account.
- Find a project to support; and support it by purchasing or selecting gifts with Bitcoin through fundFlyer.
- When the targeted Bitcoin funding level is reached, follow the project as it is executed!
- If the targeted funding level is not reached, the contributed bitcoins are refunded to the Project Supporters. Once a project is deemed to be unfunded, refunds will be processed within one week.
With fundFlyer, you can find projects that you are passionate about, and use Bitcoin to contribute towards making those projects a reality!
Fees
10% of Bitcoin contributions are charged to the Project Owner as a service fee. There are no transaction fees. Fees are billed to the Project Owner, and are payable in Bitcoin. Project Owners shall deliver gifts to their respective Project Supporters within the contracted time period.
Depending on the project, the method for paying the collected Bitcoin to the project owner, the method of returning donations to supporters should a project go unfunded, and the fees incurred by the Project Owner may vary. Please read the description and disclaimer for each project carefully.