Everyone loves the underdog. Polinate, a new crowdfunding platform for creatives tired of the restrictions of other platforms, recently announced that a Gate.io listing is finally on the cards. According to an official tweet, the expected date is the 28th of September. This listing could do wonders not just for its token price but also for its visibility in the mainstream crypto community. With a strong roadmap and a view to remaining community-centric, this could be the first of many listings for Polinate and its $POLI token.
Azeem Khan, Co-founder of Polinate, elucidated on the Gate listing:
“Couldn’t be more excited to get a listing on Gate. To be such an early project and be in a position this fortunate is one few founders in this space get to do. Our main goal is to empower creatives and this is a big step towards that. Thank you to everyone who continues to believe in us.”
What Is Crowdfunding?
Crowdfunding raises capital for new projects worldwide by leveraging the internet and different websites to attract attention. With the advent of the internet and social media, creators can now reach out to an unprecedented pool of investors to make their dreams a reality.
Due to government regulation, the amount of startup capital these new ventures can make is usually very limited. This regulation, combined with the usually limited pool of acquaintances and friends, can make starting any new venture seem like a Herculean task. Projects like Kickstarter, Patreon and now Polinate look to ease this beginning stage by giving exposure to an increased pool of investors.
Along with providing an increased pool of investors, the risk is also reduced for people with their money in the business. Rather than requiring huge sums of money from a few people, thousands can contribute smaller amounts and still attain the same goal.
Revamping the Crowdfunding Landscape
Despite the huge support for crowdfunding platforms and the positives they represent, quite a few of them are hard to use due to a slew of problems. Patreon, for example, takes up to 12% of your earnings, a substantial amount for startups looking to keep their head above water in an ever-increasing pool of similar projects. Kickstarter, although popular, is also filled with huge amounts of red tape, making it inflexible and highly regulated — a combination that could stifle any creative looking to make a difference.
Polinate plans to give complete creative freedom while maintaining a low barrier to entry for newcomers. Its $POLI token will be the primary engine behind this and investors holding it will gain significant benefits. Similarly, the pTKN will allow creators to provide incentives for prospective fans, potentially attracting far more attention to their project than they would have been able to otherwise.
Support from Industry Players
The goal of giving power back to creators and solidifying the creator-fan relationship is shared by quite a few people in the crypto space. AllianceBlock is one big name that has thrown its weight behind Polinate. Perhaps their goals align on some level because AllianceBlock is a project built to show clear relationships between traditional finance and Defi. This is analogous to Polinate’s goal of moving traditional crowdfunding to the blockchain and making it more accessible to creators.
Along with this, Polinate has also announced partnerships with other heavyweights such as Terra Virtua, Polygon, DAFI Protocol, Polkalokr and Art Wallet. Following a successful initial dex offering (IDO), the POLI token has also been listed on both Uniswap and Quickswap.
Fundraising-wise, Polinate seems to have been similarly successful, raising $1.25 million in its funding round and attracting the attention of names like SL2 Capital, AU21 Capital, Dutch Crypto Investors, and many others.