NCFA Blockchain Fintech CONFIDENTIAL (Vol 1, Issue 1)
The National Crowdfunding & Fintech Association of Canada (NCFA) and exclusive Title Partner of the 4th VanFUNDING conference held in downtown Vancouver Nov 29-30, 2018, TODA Network, are proud to present select content in an inaugural pop-up digital magazine format. This year’s theme, CONVERGE, immerses participants and builds bridges across the most disruptive emerging technologies, capital market innovations and key stakeholders that are powering new global markets, new decentralized models, new forms of computer intelligence, new IP, new infrastructure and new alternative investment opportunities toward the vision of a Web 3.0. The world is undergoing unprecedented change that is already affecting our daily lives — how we interact with financial services, generate digital wealth, invest, evaluate, consume, vote, store, transfer, and purchase anything of value. Blockchain’s momentum is not slowing down anytime soon and its capabilities for revolutionizing the financial industry go beyond merely eliminating the “middleman” to harnessing the power to improve fraud detection, transparency and trust, and enhance financial management, change the nature of money and encourage financial inclusivity. The potential is limitless. While blockchain technology has shown immense potential to push us closer towards a utopian financial world, the global penetration of [this technology] is less than 0.2 per cent. While individuals should remain cautious about fraudulent businesses that have arisen from people looking to cash in on the hype, the next wave of blockchain adoption and utilization will be like a tsunami, [where] you can partake in what's yet to be the most disruptive technology in human history or ignore it and get disrupted. We’d like to thank all the partners, speakers, attendees, volunteers and the entire organizing team for coming together to make VF2018 an incredible experience. Congratulations to Symend, Very Good Butchers and MOCA Estimator and for winning the pitching competition. We wish you all great success! The commercialization of emerging technologies is a journey, not a sprint. With this in mind, we encourage you to converge with us in volume 1, issue 1 of ‘Blockchain Fintech CONFIDENTIAL’ and step inside the future of blockchain, fintech, AI and alternative investing.
The National Crowdfunding & Fintech Association of Canada (NCFA) and exclusive Title Partner of the 4th VanFUNDING conference held in downtown Vancouver Nov 29-30, 2018, TODA Network, are proud to present select content in an inaugural pop-up digital magazine format.
This year’s theme, CONVERGE, immerses participants and builds bridges across the most disruptive emerging technologies, capital market innovations and key stakeholders that are powering new global markets, new decentralized models, new forms of computer intelligence, new IP, new infrastructure and new alternative investment opportunities toward the vision of a Web 3.0.
The world is undergoing unprecedented change that is already affecting our daily lives — how we interact with financial services, generate digital wealth, invest, evaluate, consume, vote, store, transfer, and purchase anything of value.
Blockchain’s momentum is not slowing down anytime soon and its capabilities for revolutionizing the financial industry go beyond merely eliminating the “middleman” to harnessing the power to improve fraud detection, transparency and trust, and enhance financial management, change the nature of money and encourage financial inclusivity. The potential is limitless.
While blockchain technology has shown immense potential to push us closer towards a utopian financial world, the global penetration of [this technology] is less than 0.2 per cent. While individuals should remain cautious about fraudulent businesses that have arisen from people looking to cash in on the hype, the next wave of blockchain adoption and utilization will be like a tsunami, [where] you can partake in what's yet to be the most disruptive technology in human history or ignore it and get disrupted.
We’d like to thank all the partners, speakers, attendees, volunteers and the entire organizing team for coming together to make VF2018 an incredible experience. Congratulations to Symend, Very Good Butchers and MOCA Estimator and for winning the pitching competition. We wish you all great success!
The commercialization of emerging technologies is a journey, not a sprint. With this in mind, we encourage you to converge with us in volume 1, issue 1 of ‘Blockchain Fintech CONFIDENTIAL’ and step inside the future of blockchain, fintech, AI and alternative investing.
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BEST PRACTICE<br />
Entrepreneurs approach crowdfunding with the optimism and overconfidence<br />
of a novice stock trader out to beat the market — yet, at the end of the day the<br />
underlying assumption of easy money, if not actually rocked to its foundations,<br />
is certainly called into question. Low success rates have historically plagued<br />
crowdfunding campaigns: in the U.S., U.K., and Canada about 60 percent fails to<br />
reach its target.<br />
At the VanFUNDING Conference, crowd-funding<br />
veterans Daryl Hatton (FundRazr), Victoria<br />
Bennett (FrontFundr), and Jasper Dikmans<br />
(FrontFundr) hosted the workshop “Anatomy of a<br />
Deal” to tell you everything you need to know to<br />
not be exiled to crowdfunding Siberia.<br />
We analyzed two companies that raised on<br />
FrontFundr: ski resort RED Mountain that raised<br />
$2.5 million from 744 investors and vegan<br />
butcher The Very Good Butchers that raised<br />
$446,000 from 171 investors to date. Here are the<br />
five key strategies these companies employed<br />
to successfully execute their investment<br />
crowdfunding campaigns:<br />
1. Drive high volumes of traffic<br />
The dictum “more is better” certainly applies<br />
to the number of unique visitors to your<br />
campaign page. 171 people invested in<br />
The Very Good Butchers — yet over 14,000<br />
people visited their campaign page. If you<br />
do the math, you’ll find that only 1 in about<br />
86 visitors to the campaign page made an<br />
investment. Let’s add one more variable: the<br />
click-through rate of emails that were sent<br />
out to promote the Very Good Butcher’s<br />
campaign averaged 19%. If the campaign<br />
would have been solely promoted via<br />
emails, the company would have needed to<br />
reach an astonishing 77,000 email recipients<br />
to drive 14,772 visitors to the campaign<br />
page. In reality, the company reached out to<br />
potential investors through different online<br />
channels — yet emails have the highest<br />
conversion rate of them all. For example,<br />
The Very Good Butcher’s Facebook posts<br />
had an average click through rate of just 7%.<br />
2. Build an engaged community of<br />
supporters who surround the business<br />
FrontFundr has an investor community of<br />
over 11,000 investors and promotes every<br />
campaign to this community. However,<br />
by now it should be clear that you’ll need<br />
to reach more than 11,000 people to pull<br />
off a successful investment crowdfunding<br />
campaign — that’s why the company will<br />
have to drive traffic to its campaign, too.<br />
RED Mountain started to build email lists<br />
and a following on social media long before<br />
its campaign began. Access to a large,<br />
engaged community of supporters who<br />
surround the business is what set RED up<br />
for investment crowdfunding success.<br />
3. Provide social proof and investor perks<br />
What is crowdfunding social proof? It’s<br />
the phenomenon where people are more<br />
prone to invest in a campaign already<br />
invested in by others. The dollars raised and<br />
the number of investors are a measurement<br />
of company’s risk or credibility, and provide<br />
a mental checkbox that potential investors<br />
check off before they invest their hardearned<br />
money in your company. A progress<br />
bar on the campaign page that displays 100%<br />
or more is the crowdfunding equivalent of a<br />
pub with a long line out the door is. While<br />
seeking $500,000, The Very Good Butchers<br />
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