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Crowdfunding and the Online Art Market

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By Guest Blogger, Anders Cederholm – In recent years, crowdfunding has become possible, thanks to websites which allow different businesses to raise money. Artboost is the new digital and social media version of fundraising for artists and art collectors.

What is Crowdfunding?

Crowdfunding is a fundraising concept where a community helps projects and new ideas to come to live. Having a successful crowdfunding campaign provides businesses with needed cash, but it also creates a base of customers who feel that they have a stake in that business’s success. If it wasn’t for the community supporting that project, it probably would not succeed.

Art and Crowdfunding

Anders Cederholm, Co-Founder of Artboost explains, “One of the main problems for exposing great art is that the art world has been traditionally difficult to enter.  In order to have success as an artist, an artist usually needs to have a name and in order to build that name, the artist needs to have exposure”

Anders continues his thoughts, “Nowadays artists have the ability to be crowdfunded online (In the past, this was a market that has previously been permeated by digital startups). This business model enables upcoming artists to get their feet in the art world with no curating principles, here all creative individuals are welcome”.   

Artists Don’t Waste Time on Marketing

Cederholm explains, “Many artists do not know how to promote themselves and their art, and because of this they have difficulty getting the needed exposure”. With the help from platforms such as Artboost Crowdfunding artists now have the ability to focus on what they are best at, and that is creating their art.

Artists Can Earn More than the Original Art Piece

Art crowdfunding has helped international artists get more exposure, and it has enabled them to focus on what creates most value for them. Having a crowdfunding campaign enables artists to earn profit on an art piece even though the original art piece has already been sold.

By allowing the artists to create limited edition prints of their original art piece, they can earn up to 10 times more, and best of all – the artist doesn’t have to do anything!

Limited Editions Have Sold Out in 36 Hours

Artist, Natmir Lura, says, “I have had great exposure on my artwork through Artboost Crowdfunding. In fact, one time, one of my prints was sold out in 36 hours.”

A crowdfunding campaign runs for approximately 20 days. The art piece is printed in 30 limited editions, only if the campaign succeeds. For the campaign to be successful, the artist needs 15 pre-orders, or in other words 15 individual fundraisers.  At this point-in-time Artboost will then produce, sell and ship the prints to the customers, on behalf of the artist.

About Artboost:

Artboost is an online platform for artists and art-buyers. With the Artboost Crowdfunding Space and the Artboost Marketplace buyers can discover upcoming artists and buy unique and limited art – based on the buyer’s budget.

Collectors can buy artworks directly from the artist through the marketplace or an artist can get the needed support for their first crowdfunded piece of art in the Artboost Crowdfunding Space.

Are you an artist yourself, and do you want to apply for an Artboost Crowdfunding campaign? Or do you want to know more about the concept? Read more here. artboost.com/crowdfunding.

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