"Fan Funding" Comes to Wattpad

Aug 13, 2013


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At this point, ebooks are practically old news, but digital technology continues to change the way books are created, discovered, and even funded. Wattpad, a social network for aspiring writers, has added a crowdfunding component to its site--only they call it "fan funding."

The model is familiar. Writers can set a 30-day goal to raise money to fund a project, and fans who pledge money get rewards like dedicated chapters or even a character named after them. If they writer fails to achieve his/her goal in 30 days, no money is taken from the pledges--and no rewards are given.

(Wattpad.com)