WHIRL launches new crowdfunding platform with a social mission
WHIRL’s revolutionary new platform launches today, bringing the benefits of blockchain technology and a radical twist on crowdfunding to the crypto space.
Today we announce the official launch of WHIRL, our socially-driven blockchain crowdfunding platform!
Crowdfunding with a difference
While there are plenty of crowdfunding platforms in both the conventional and crypto worlds, we consider WHIRL dramatically different to all of them and the first ever truly credible blockchain-powered consumer crowdfunding platform. Our launch is the culmination of many years of research, 18 months of development, and lengthy process of full legal vetting.
WHIRL can be used to finance anything (within reason), from scientific endeavours and new business ventures to personal goals or medical bills. The really exciting part of it is that our unique approach ensures that every active campaign gets the funding it needs! By incentivising our community with internal Karma points and our native currency, the WRL token, we can guarantee that every project that comes to the front of the transparent queue of campaigns is a success.
As a blockchain-hosted platform, WHIRL is a global phenomenon that enables anyone to participate, regardless of their geographical location or banking status.
Team
WHIRL’s team is an all-star group of nonprofit, blockchain, and crowdfunding veterans, including Martijn Hekman, who has led large-scale humanitarian aid efforts across 15 countries for World Vision, the United Nations and multiple NGOs; Roel Wolfert, a pioneer in digital payments, founding member of Liqwith, early adviser to Bancor, and former Senior VP at VISA; Valery Zobov (MegaLine); and Anti Danilevski (KICKICO). We see the benefits of blockchain and crowdfunding, and know there are powerful synergies here. That’s why we’re so proud to launch our new platform, giving the world a new way to finance their dreams and obligations — turbocharging it with a revolutionary incentive system that will encourage giving and maximise the chances of campaign success.
Our collective expertise has been used to realise the full potential of blockchain and crowdfunding, creating a platform that will unite the world in mutual self-support and have real social impact that helps people realise their dreams.
Crowdfunding stagnation
Over the last decade, the crowdfunding sector has stagnated due to oversaturation and fraud, leading to sharply declining success rates. WHIRL solves these problems by listing a limited number of campaigns at once and by incentivising backers with a fair and transparent points system, called Karma. When you back a campaign on WHIRL you earn Karma. Then, when it’s your turn to create a campaign to realise your dream, your Karma determines when it goes live and how much it is allowed to raise. This ‘pay it forward’ feedback loop was inspired by historic community giving pools.
You can think of this approach as a disruptive alternative to the bank loans of yesterday. Without taking on debt, you can use it to fund anything: scientific endeavors, art projects, Olympic dreams, education, travel, medical bills, and new business ideas. And it rewards generosity: the more you have given, the more you can be given in return.
Social focus
As a socially driven platform, WHIRL helps individuals raise money for their dreams and obligations without having to beg friends and family for donations, ship gimmicky rewards, or take out expensive and often crippling bank loans. It will help nonprofit organisations by increasing their exposure and giving them access to an immediate new source of capital.
Co-founder Martijn Hekman has led humanitarian relief efforts in Syria, Iraq, and Afghanistan, and knows first hand how difficult it is for global nonprofits to receive and distribute aid. Among other use cases, WHIRL was built to help nonprofits and populations who have been left out of the crowdfunding revolution due to their geography and banking conditions. That’s why we’re building in a commitment to nonprofits: every such organisation approved by WHIRL receives special campaign placement slots, is charged no platform fees, and backers are gifted bonus Karma (20 Karma per dollar contribution).
Legal
The Dutch office of global law firm Dentons has assessed the operating principles of the platform from a Dutch financial regulatory perspective and has concluded that WHIRL does not contravene any relevant Dutch regulations or EU regulations directly applicable in the Netherlands in this respect.
First three campaigns go live
WHIRL launches with three live campaigns. The first is created to fund a performance art and music show by acclaimed artist and provocateur, Sandra Kowalskii. The second will back a personal expedition to conquer Mount Kilimanjaro. The third will fund a unique fantasy video game that enables players to wave their phone like a magic wand.
For every dollar-equivalent amount supporters spend in backing a campaign, they will earn 7–20 Karma points. You will need to meet a Karma threshold to create a campaign of your own, and your Karma balance determines when your campaign goes live and how much it can raise. WHIRL supports no fewer than twelve different cryptocurrencies: ADA, BCH, BTC, DASH, EOS, ETH, KICK, LTC, USDT, XLM and XRP, as well as our native currency WRL, which will earn you additional Karma when spent. If you back a campaign with WRL, you will earn 10 Karma per dollar. Partner cryptos like KICK earn 8.5 Karma and every other crypto earns 7 per dollar. To reach the widest possible audience, WHIRL is also working on accepting fiat currency.
To learn more, visit www.whirl.com, create an account, look around and then start or back a campaign!
