Indirect competitors
Indirect competition comes from crowdfunding platforms, especially those who focus on supporting artistic projects. The most known case is that of Kickstarter, which was founded under the patronage concept itself, though it has evolved to something broader.
Kickstarter enjoys tremendous success, with close to 20 million backers by July 2021, over 70 million total pledges, over 250k successfully funded projects, and close to USD 6 billion in dollars pledged. The platform monetizes through a 5% commission fee over pledges, and an additional 3-5% fee for processing payments.
As most crowdfunding platforms, Kickstarter functions as an open marketplace, where backers search for projects to fund, without the need of getting acquainted or developing any personal connection with the artists whose works they are supporting.
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