Crowdfunding market came like a bomb and it is spreading all over the internet to diverse target markets. Though the concept has been around for centuries, the internet and social media brought the explosion. It is relatively new and the data surrounding that growth is still sparsely distributed.
Nonetheless experts are recorded that the likely market size as at 2015 to be $16.2 billion. The future of crowdfunding is very bright by my estimation. The market is still evolving and will continue to evolve. It is not planning to settle because exotic ideas are emerging daily. The World Bank also predicted that crowdfunding may become a key funding source for the developing world.
The Bank further predicted that crowdfunding has the potential to reach $93 billion per-annum in developing countries by 2025. This prediction is made despite the fact that crowdfunding in the era of social media and internet is virtually unknown or unheard of in many developing countries, even as it is growing exponentially in many developed countries.
If the prediction by the World Bank becomes a reality, it means that crowdfunding market may have a wider depth than expected by many observers.
The need to have a general overview of crowdfunding platforms through a graphical interface has been echoed by the crowd. People want to know who is backing what, including what their friends and associates are doing on crowdfunding platforms.
Social graph will boost confidence in crowdfunding because it will help to weed out fraudulent activities of unscrupulous business ideas. With a social graph, it will be easy to know what is happening on other platforms. People can be able to read reviews from across platforms on one page.