HOW DOES 365BT WORK?
A creator is the person or team behind the project idea; working to bring it to life. Every project creator sets their project’s funding goal and deadline.
If people like the project, they can pledge money to make it happen through the 365BT platform. Backers are folks who pledge money to join creators in bringing projects to life.
Rewards are a creator’s chance to share a piece of their project with their backer community. Typically, these are one-of-a-kind experiences, limited editions, or copies of the creative work being produced.
There are two types of project funding approach that a creator may choose, (A) Flexible or (B) Fixed. A flexible funding approach entitles the project owner to whatever amount raised throughout the funding period through 365BT platform. While a fixed funding approach entitles the project owner to the funds based on the agreed target amount. If it does not reach the stated funding target, 365BT will refund to all the backers of that particular project. As part of the economy of 365BT, the creator has to reward the backers!
Create: I Need Funds!
Each project is solely designed, created and crafted by the creator!
The creator creates introductory videos or pages, short story or any other creative presentation through 365BT to gain support from the people. The vision, objective and the concept of the project has to be mapped out in an interesting and compelling story to win the hearts of the backers! And at the same time, the creator has to think about a suitable reward to share it back to the backer who has supported the project.
Equally important, the creator to set on the project funding target and the funding period (for example, it could be within 60 days). Once the project is ready, the creator will launch it through 365BT and starts to share the project within the community.
Take a look at our campaigns and start to + New Campaign.
I Would Like To Support A Project!
Remember this – Dreamers will never be alone. Dream is inspiring and there is always have someone to share common vision with you.
If YOU would like to pledge your support by giving out monies through 365BT, then you are a backer!
If a backer likes the concept presented by the creator, they may fund the project to make it real. There are many backers out there that will not hesitate to support new inspirations as well as new ideas! Besides, a lot of backers are rallying around their friends’ projects.
While other backers are inspired by the project rewards which could be a self-made item, an art work, a one-of-a-kind experiences, limited editions, or copies of the creative work being produced.
In most cases, the majority of funding initially comes from the fans and friends of each project. If they like it, they will spread the word to their friends, and so on. Press, blogs, Twitter, Facebook, and 365BT itself are also big sources of traffic and pledges – to accelerate the funding process.
Backing a project is something beyond just giving someone money, it is supporting the dreamers to create something from their mind and seeing into realisation in the real world. By backing a single project, the backers are experiencing these amazing moments!
Backers that support a project on 365BT will get an inside scoop at the creative process, and help that project come to life. They also get to choose from a variety of unique rewards offered by the project creator. Rewards vary from project to project, but often include a copy of what is being produced (CD, DVD, book, etc.) or an experience unique to the project.
Project creators hold the whole ownership of their work, either before or after the project completed, and therefore they have complete control and responsibility over their project. In other words, project creators keep 100% ownership of their work, and 365BT cannot be used to offer equity, financial returns, or to solicit loans.
Backers are supporting projects to help them come to life, not to profit financially. Instead, project creators offer rewards to thank backers for their support. Backers of an effort to make a book or film, for example, often get a copy of the finished work.
A bigger pledge to a film project might get you into the premiere — or a private screening for the backers. For example, one artist raised funds to create a wall installation and then gave pieces of it to her backers when the exhibit ended – hence, at the end of the day, it is up to the creator on how to set such rewards mechanics.
365BT Simple Service Fee
365BT applies a 10% service fee to the funds collected. 365BT have been registered for GST, please be informed that we will be charging 6% GST on all applicable goods and services supplied to you and effected on 1 February 2017 (Not inclusive GST!) Pledges will be processed securely through a third-party payments processor.
365BT Mission To Help Bring Creative Projects To Life!
It is our mission to make 365BT better every day, answering queries from backers and creators, and finding new projects to share.
At 365BT, we believe that creative projects make for a better world, and we are thrilled to help support new ones. Building a community of backers around an idea is an amazing way to make something new.