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Kickstarted, one of the world’s biggest crowdfunding platforms has recently decided that it is about to go blockchain. The company recently teamed up with the Celo blockchain. Kickstarted created a brand new company that will build a crowdfunding platform on the Celo chain, for Kickstarter to eventually migrate to and become a blockchain-based service.
Kickstarter is moving on-chain
Kickstarter has always had a special relationship with the community. In fact, the entire company only survives because of its people, who get the opportunity to look up different projects and fund them if they find them worthy of support. Now, however, Kickstarter has decided that it will serve its people best if it develops an open.source protocol that will eventually result in the creation of a decentralized version of its platform.
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Kickstarter choose Celo for a number of reasons, including the fact that it is a carbon-negative chain, and that it is available for collaborators, contributors, as well as crowdfunding competitors. Celo’s goal is to minimize the environmental impact — something that has been rather problematic with Bitcoin (BTC/USD) and other major chains that consume a lot of energy in order to process transactions and solve blocks.
Once the blockchain project is ready, Kickstarter plans to migrate its existing website to the new system. According to what is known, the development of the new protocol has yet to start, likely at some point during Q1 2022. After that, the transition of the site is expected to take place later during the same year, although it remains unknown when exactly.
The company also established a new governance lab, led by the co-founder and executive director of Purpose Foundation, Camille Canon. Canon will be in charge of overseeing the development of the protocol.