The problem

$700M was wasted in 2023 on Kickstarter alone when fully funded projects never deliver what was promised. This is because traditional crowdfunding platforms fail to provide guarantees.

The solution

viaPrize solves this by taking the funds for a project and then welcoming anyone to complete the project. If no one completes the project, then everyone is refunded.

Prizes include three types of contributors: Prize proposers come up with the project idea Prize funders elevate the best ideas by showing demand Prize contestants win rewards building the project

With viaPrize, ideas are crowdsourced, rewards are crowdfunded, and project execution is an open invitation.

The Middle Road for Public Goods Funding

Prizes open up a complementary alternative in the public goods funding ecosystem that balances funder confidence and builder security.

Gitcoin optimizes for builder security because it gives upfront funds, but lacks funder confidence because there is no guarantee of success.

Optimism Retro PGF optimizes for funder confidence because funders review the impact of existing projects and add rewards, but lacks builder security because there is no guarantee of any particular amount of funding.

With prizes, funders know the project will be built or they are refunded, so they have some confidence. Builders know there is a certain amount of funding waiting for them if they successfully create a project, so they have some security.

We look forward to a full public goods funding user journey where you receive: QF Grant - Before building (and ongoing) Crowdfunded Prize - When you finish building (prizes for a whole product and prizes for particular features) Retro PGF - When you see the impact of what was built

Our origins

The concept of crowdfunded prizes sounded revolutionary as Noah discussed it with residents of the entrepreneurs' pop-up city Zuzalu, so we tested it. As residents discussed the idea of making an AI voice for a river, Noah launched a prize and residents tossed in $20. After an impromptu five day hackathon attracting twelve builders, we presented the first AI voice for a nature entity in history to the Prime Minister of Montenegro. If we had used Kickstarter, then only the team who posted an idea would receive funds. By using prizes, any builder was welcome.

However, Noah wanted to be certain this can make a real impact. Thus, he found himself watching anti-missile defense shoot down a kamikaze drone as it dove towards him while on the way to deliver medical supplies in Ukraine, funded by a prize from viaPrize.org The medics ended up using the supplies treating 45 injured and saving multiple lives, and Noah decided to pursue this initiative full time.

Traction

As of July, 2024 we have distributed over $50,000 and have successful prizes for building projects ranging from free productivity apps to writing competitions. We take a 5% platform fee.

Thank You Gitcoin!

This has all been accomplished with our full time team being supported through our sole funding coming coming from over 2000 donors on Gitcoin plus matching. Thank you for making this possible!

More about that here: https://gov.gitcoin.co/t/gitcoin-appreciations-thread/18332

Update: In Sep 2024 we also received a grant from the Optimism foundation!

Traditional Fundraisers

In Jan 2024, we added crowdfunding "fundraisers" with two types: "Pass-through" where funds are immediately directed to the recipient "All-or-nothing" where you refund everyone if the funding goal is not met by the deadline

Next steps

MVP - Tested during Zuzalu V1 - Current version. Usable for crypto natives V2 - By the end of Jul 2024. Easier onboarding for web2 users. V3 - By the end of Sep 2024. Accessibility for people in developing countries by having a mobile app and cash off-ramps around the world for those who do not have bank accounts.

We are incubating the project by living with users and iterating on their feedback during Zuzalu-inspired pop-up villages around the world.

Connect!

See opportunities to win prizes: https://x.com/viaprize

Try it out!

Visit viaprize.org and post a prize or portal today! The proposers of a prize idea also receive 5% of the award. Let's build public goods!