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Social Bootstrapping: Microfunding Major Projects in the Arts and Nonprofit Organizations
Abstract
Just as the three most important aspects of real estate are: Location, Location, Location, it can be said that the three most important aspects of seeking funds for major projects are Access, Access, Access. The advent of social media has opened a new avenue for artists and non-profits to fund their programs: social bootstrapping. This chapter will address the use of social media platforms to raise funds for major arts and nonprofit projects. This chapter will also consider the implications of social media to fund niche programs that may be considered “too risky” to fund under the traditional rules or those that simply don't have the access to major contributors. Pioneers in the arts and nonprofit industries have successfully adopted the best practices of the technology industry and used social media platforms to secure funding that would not traditionally be available.
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