A new crowdfunding platform is scheduled to launch in late May, with Bitcoin Cash (BCH) at the core of its fundraising model.
Coinfundr will focus solely on raising funds through Bitcoin, as an alternative to already established sites like Indiegogo and Kickstarter, The Merkle reported.
In one of the first developments of its kind to be built solely around a single cryptocurrency, the Coinfundr platform aims to allow businesses, inventors and entrepreneurs to raise the capital they need from investors via BCH payments.
Details remain patchy at this stage as to how the platform will work. However, suggestions are that it will be familiar to other crowdfunding models, with Bitcoin support the exclusive focal point for investments.
The platform will also reportedly include support for ShapeShift. While there are few details on that front at the moment, this is already fueling interest in the crowdfunding platform from investors and analysts alike.
The news is the latest positive development for Bitcoin Cash, and comes in the wake of several key technological developments. Key technical upgrades, combined with the upcoming second network upgrade, are already raising interest in Bitcoin Cash as the closest cryptocurrency to the vision in the original Satoshi whitepaper.
With Coinfundr poised to launch later this month, all eyes will now be on whether the platform can carve a niche for itself within the cryptocurrency, as well as the wider crowdfunding sectors. Twitter user @itsmaemon posted a screenshot of the crowdfunding platform, which promised that “anyone can get their campaign funded with cryptocurrencies and get paid almost instantly via Bitcoin Cash.”
— Unit Maemon (@itsmaemon) May 7, 2018
It remains to be seen whether the first Bitcoin-powered crowdfunding platform of its kind can have a defining effect on crowdfunding, and the use of cryptocurrencies in raising capital beyond the increasingly regulated initial coin offering (ICO) model.