Indiegogo has an exciting (if you're into crowdfunding) new pilot program that will allow people to raise money long after a campaign deadline. The company says that it is in line with its mission to "democratise funding...whatever it is, wherever they are or however they’d like to do it."
We're not sure if this is a great thing or a sign we need to password-protect our wallets from impulse crowdfunding.
Deadline? What deadline?
Indiegogo says that the pilot program is in response to requests from people to keep their campaigns going way past deadline. That way, a popular project could keep getting funding, essentially investing in companies on a continuing basis.
While crowdfunding is all well and good, the point of the Forever Funding campaign, essentially creating patrons for a company isn't all that different from, say, Patreon. But as Techcrunch rightly points out, it could easily be abused by grifters who could potentially keep milking unsuspecting patrons forever.
Kickstarter and Indiegogo both make money by taking cuts from campaigns, but still fall behind when it comes to ensuring campaigns are legitimate and that funders aren't being fleeced for for products or projects that never pan out.
Crowdfunding could be something useful for struggling indie creators out there but while Forever Funding looks great on the surface, care must be taken to look out for the welfare of backers too.
READ MORE: Crowdfunding news and projects